Catenaa, Wednesday, February 18, 2026- Bitcoin treasury firm Strategy purchased 2,486 BTC for roughly $168.4 million at an average price of $67,710 per coin between February 9 and 16, bringing total holdings to 717,131 BTC, according to a Tuesday SEC filing.
The purchases, made via at-the-market sales of Class A common stock (MSTR) and perpetual preferred stock (STRC), increased Strategy’s exposure to Bitcoin to about 3.4% of the cryptocurrency’s 21 million-coin cap.
The total cost of the holdings, including fees, is $54.5 billion at an average price of $76,027 per bitcoin, creating an estimated $5.7 billion in mark-to-market losses.
Strategy raised $90.5 million through 660,000 MSTR shares and $78.4 million via 785,354 STRC shares during the period, leaving $7.88 billion and $3.54 billion remaining under the respective ATM programs.
The company’s broader equity and convertible note strategy, known as the “42/42” plan, aims to raise $84 billion by 2027 to fund additional bitcoin acquisitions.
CEO Phong Le said Strategy’s balance sheet can withstand a decline in bitcoin to $8,000, with long-dated preferred stock and ample cash reserves mitigating risk.
Analysts from Bernstein and TD Cowen noted the firm is conservatively leveraged and well-positioned for a market recovery.
Shares of Strategy rose 16.5% last week, closing at $133.88, while bitcoin’s price moved up 0.5% during the same period.
Strategy remains the largest public corporate holder of bitcoin, with holdings far exceeding peers including MARA, Twenty One, Metaplanet, and Bitcoin Standard Treasury Company.
