Strategy Inc. (NASDAQ:MSTR) has bought 2,932 Bitcoin (CRYPTO: BTC) for $264.1 million, but MSTR is down to $161 on Monday morning.

The Bitcoin Purchase Details

Strategy paid an average of $90,061 per Bitcoin for the latest purchase, well above the company’s overall cost basis of $76,037 per Bitcoin across all 712,647 BTC holdings.

The company funded the purchase by selling 1,569,770 shares of Class A common stock for $257 million and 70,201 shares of STRC preferred stock for $7 million through at-the-market offerings.

Strategy’s total Bitcoin holdings are now worth approximately $62.5 billion at current prices, purchased for $54.2 billion including fees—representing roughly $8.3 billion in paper gains. 

The company holds about 3.4% of Bitcoin’s total 21 million supply.

Additionally, Strategy still has $8.17 billion worth of MSTR shares available for sale under its ATM program for future Bitcoin acquisitions, plus $3.62 billion worth of STRC shares remaining.

Saylor Teased The Purchase On X

Michael Saylor, Strategy’s executive chairman, hinted at the acquisition Sunday with his usual cryptic post on the company’s Bitcoin tracker, stating “Unstoppable Orange.”

Saylor had also posted Thursday morning: “Thinking about buying more Bitcoin.” 

Weekly BTC purchases are routine for Strategy, but Saylor typically saves his posts about acquisitions for the weekend—making Thursday’s tweet unusual timing.

The Technical Problem: $160 Support Cracking

MSTR closed Friday at $163.11, up 1.32%, but Monday’s market open gave back Friday’s gains and is testing the critical $160 support level that’s held since December.

After collapsing 65% from July’s $473 peak to December’s $160.41 low, MSTR has spent over a month consolidating in the $160-180 range, forming what appears to be a triple-bottom pattern around the $160 support box.

The stock is barely above all EMAs in complete bearish alignment: 20-day at $166.06, 50-day at $186.80, 100-day at $228.03, and 200-day at $264.39.

The Supertrend remains firmly bearish at $181.47. 

A descending trendline from summer highs continues to pressure from above around $200-220.

Key Levels To Watch

• Upside: MSTR must reclaim $163.11 Friday close. Breaking $166.06 (20 EMA) then $181.47 (Supertrend) is critical. Clearing $186.80 (50 EMA) targets $200, then $228.03 (100 EMA).
• Downside: $160.60 premarket is testing $160.41 support. Breaking $160 invalidates the triple-bottom pattern and targets $150-155. Loss of $150 opens a decline to $120-130.

Image: Shutterstock