Strategy Bitcoin holdings surpass 710,000 coins: latest increase details and market impact analysis

On a company’s balance sheet, the value of Bitcoin once approached the cash reserves of tech giants, all stemming from its nearly obsessive long-term conviction.

Strategy once again demonstrates its unwavering belief in Bitcoin. From February 2 to 8, 2026, this globally renowned enterprise Bitcoin holder added 1,142 BTC with a total of approximately $90 million. The average purchase price for this acquisition was about $78,815. As of February 8, 2026, Strategy’s total Bitcoin holdings reached 714,644 BTC, with a total invested cost of approximately $54.35 billion, and an average holding cost of $76,056.

Continual Accumulation

In a volatile market, Strategy’s pace of accumulation has not slowed. According to its filing with the U.S. Securities and Exchange Commission (SEC) on Form 8-K, the company recently completed another Bitcoin purchase. The funds for this transaction came from its capital market operations. Strategy raised approximately $89.5 million by selling 616,715 Class A common shares of MSTR and nearly all of this was used to buy Bitcoin.

Co-founder Michael Saylor subtly previewed this move as usual. In his regular social media updates, he wrote “Orange dot is critical,” a phrase commonly used in the Bitcoin community to hint at increased accumulation.

Portfolio Overview

With this recent purchase, Strategy’s Bitcoin empire has expanded further. Its holdings of 714,644 BTC now account for over 3.4% of Bitcoin’s total theoretical supply of 21 million coins. This is an enormous figure. In comparison, according to data from BitcoinTreasuries, the combined holdings of the second to tenth largest publicly traded companies holding Bitcoin are far less than this.

According to its announcement, as of February 8, the company still has about $7.97 billion worth of MSTR stock available for future issuance, providing financial flexibility for its ongoing strategy.

Risk Margins

Despite Bitcoin’s price retracing from its all-time high, Strategy’s management remains confident in its financial robustness.

CEO Pano Lemos recently stated that the company’s financial structure can withstand extreme market pressures. He pointed out that only if Bitcoin’s price falls to $8,000 and remains at that low for five to six years would the company’s convertible debt repayment face a substantial threat. This assessment is based on the company’s ample cash reserves. TD Cowen analysts noted that Strategy has about $2.25 billion in cash, enough to cover nearly 17 months of fixed expenses and $1 billion in convertible notes.

Market Sentiment

Strategy’s accumulation activity occurred amid a significant correction in the Bitcoin market. According to Gate data, as of February 10, 2026, Bitcoin’s price was $70,135.50, down from recent highs.

Nevertheless, mainstream institutions remain optimistic about Bitcoin’s long-term prospects. Bernstein analysts reaffirmed their target price of $150,000 for Bitcoin in 2026, citing increased institutional acceptance, improved ETF infrastructure, and enhanced liquidity.

JPMorgan’s analysts, taking a broader view, suggest that Bitcoin is challenging gold’s market value. They believe that, based on the downward trend in Bitcoin-to-gold volatility ratios, Bitcoin could approach $170,000 by 2026.

Corporate Wave

Strategy is not an isolated case; it has led a silent revolution in corporate asset allocation. Currently, over 200 publicly traded companies hold Bitcoin on their balance sheets, a number that has grown significantly since the start of the year.

The corporate Bitcoin holdings leaderboard shows that, besides Strategy, major holders include MARA, TwentyOne supported by Tether, and Metaplanet. These companies are viewing Bitcoin as a new treasury asset.

Some institutions even compare Bitcoin to the cash reserves of tech giants. When Bitcoin hit new all-time highs, Strategy’s Bitcoin reserves briefly surpassed $80 billion, bringing its corporate treasury value close to the cash holdings of Amazon, Google, and Microsoft.

Future Outlook

Professional research institutions have made broad predictions for the 2026 crypto market. Galaxy Research believes that, despite short-term uncertainties, Bitcoin reaching a new all-time high in 2026 remains possible.

Market cycle logic may be undergoing a profound change. Some analysts suggest that the traditional four-year halving cycle for Bitcoin is losing effectiveness. Driven by spot ETFs, sovereign nations, and corporate allocations, the buying logic for Bitcoin has shifted toward “strategic asset allocation.”

Based on this, some viewpoints suggest that Bitcoin could break from tradition in this cycle, aiming for a price peak of $250,000, with the market exhibiting characteristics of a “slow bull” and “long-term bull.”

When Bitcoin’s price retraced to the $70,000 range, Strategy’s holdings shifted from unrealized gains to unrealized losses of about $5.2 billion. However, its CEO described this as “just an accounting loss, not an actual cash loss.” The company’s stock price has fallen about 70% from its peak, and its market cap briefly dipped below the net value of its Bitcoin holdings. Nonetheless, Wall Street institutions remain confident; TD Cowen maintains a target price of $440, believing there is “no reasonable scenario forcing Strategy to sell Bitcoin.”

As of February 10, 2026, Gate data shows Bitcoin’s price at $70,135.50. Based on Gate’s price forecast data, market analysts estimate that Bitcoin’s average price in 2026 could be around $70,791.30, with a volatility range between approximately $57,340.95 and $91,320.77.