MicroStrategy 100th Bitcoin purchase 2026 marks a milestone and a shift. The firm bought 591 BTC for about $40 million, its smallest buy this year, pushing holdings to 717,722 BTC. With Bitcoin near $65,500, the stash is worth roughly $47 billion, yet the company sits on a large paper loss. Here’s what it means and how to act. MicroStrategy made its 100th Bitcoin buy with a smaller move than many expected. The company spent about $40 million to add 591 BTC and now holds 717,722 BTC, according to recent disclosures. This comes as the company prepares a Las Vegas conference focused on “digital credit,” and as its stock trades sharply below last year’s highs. The purchase signals discipline, but it also shows pressure from costs and market swings. If you hold Bitcoin or MicroStrategy shares, the key is to read the signals and respond with a plan.

MicroStrategy 100th Bitcoin purchase 2026: The key facts

• Size of the buy: 591 BTC for about $40 million — the smallest purchase of 2026 so far.
• Total holdings: 717,722 BTC after the latest addition, per company filings.
• Portfolio value: About $47 billion with BTC near $65,500 at the time of disclosure.
• Total spend: More than $54 billion since 2020, resulting in an unrealized loss near $6.8 billion.
• Average purchase price: Down to roughly $76,020 per BTC after this buy.
• Funding mix: New common share issuance plus a variable rate preferred share program (STRC) that pays monthly dividends of 11.25%.
• Stock backdrop: Shares fell about 2.5% on the day of the update and are down around 64% over six months.
• Conference angle: The firm hosts a two-day event with a keynote on “digital credit,” signaling a financing-led playbook.

Why the smallest buy of the year matters

Signal of caution, not surrender

The modest size suggests MicroStrategy is pacing itself. It is still buying, but it is protecting cash as market conditions remain choppy. When a large buyer slows a bit, it hints at tighter capital or a desire to average in more carefully.

Financing costs and discipline

The company is managing dividends on its preferred share program while also issuing common shares. Both steps can add costs or dilute existing holders. A smaller buy helps balance these pressures while keeping the long-term Bitcoin thesis alive.

Market share of corporate buying

Even with a lighter week, MicroStrategy still leads public companies in new Bitcoin additions. In January, it accounted for roughly 93% of Bitcoin added by listed firms, stacking about 40,150 BTC while its peers added around 3,080 BTC combined. This dominance underscores how central the company is to corporate Bitcoin demand.

Inside the “digital credit” pivot

What “digital credit” means here

In plain terms, MicroStrategy borrows or raises capital and then buys more BTC. The firm’s preferred share program (STRC) pays monthly dividends, which gives investors income while the company secures funding to grow its Bitcoin stack. The keynote at its Las Vegas event focuses on this strategy.

Upside of the approach

• It lets the company buy more BTC without selling core assets.
• It can scale faster than relying only on operating cash flow.
• It may improve per-share Bitcoin exposure when the stock trades at a premium to net asset value.

Risks to watch

• Dividend costs add a steady cash drain, which grows if BTC stagnates or falls.
• Common share issuance dilutes existing equity holders, especially if the stock is weak.
• When the firm’s market value falls relative to its Bitcoin value, it gets harder to increase BTC per share.

How to react: Practical moves for different investors

If you hold Bitcoin

• Stick to your plan. A small MicroStrategy buy does not change Bitcoin’s long-term case.
• Use pullbacks to DCA. If BTC revisits the low-to-mid $60,000s, consider small, regular adds.
• Separate signals. Corporate actions and spot price can diverge; avoid overreacting to one company’s cadence.

If you own or track MSTR

• Watch the financing mix. Track new common share issuance and STRC dividend obligations each quarter.
• Monitor per-share BTC. Rising total coins matter less if BTC per share is flat or falling.
• Map dilution risk. If the stock stays weak, new equity raises hurt more. Stress-test your thesis for extended weakness.
• Focus on average cost. The average BTC price per coin is slipping lower. That helps future upside if the market recovers.

If you trade the news

• Fade extremes. “Smallest buy” headlines can cause knee-jerk moves. Wait for volume confirmation before acting.
• Track catalysts. Conference remarks on “digital credit” could move both MSTR and BTC. Set alerts for guidance on funding pace.
• Use levels. Build trade plans around $65,000 support and the $70,000–$75,000 range for Bitcoin, with clear stops.

If you run a treasury or crypto fund

• Run cost-of-capital math. Compare debt, preferred shares, and equity issuance versus expected BTC returns.
• Diversify funding sources. Do not rely on one instrument for Bitcoin exposure.
• Communicate risk. Explain drawdown scenarios, dividend coverage, and dilution to stakeholders in simple terms.

Market context and scenarios to consider

Probability of selling

A prediction market recently placed the odds of a MicroStrategy sale of any BTC this year around 17%, down from 33% earlier in the month. That suggests the crowd sees less forced selling risk for now, even with losses on paper.

Price path matters more than pace

If Bitcoin holds or climbs from the mid-$60,000s, the company’s smaller buys can still support its average entry price and balance sheet optics. If Bitcoin slides toward the mid-$50,000s, financing costs will feel heavier, and equity raises may be tougher. For traders, set alerts for clean breaks under $62,000 or above $72,000 to gauge trend strength.

mNAV and enterprise value

When the multiple-to-net asset value falls, it becomes harder to raise equity without hurting per-share metrics. That is one reason a smaller purchase can be wise now. It keeps optionality while waiting for better market conditions or a stronger stock.

What this means for rivals and copycats

Other Bitcoin-buying firms, including Strive and Metaplanet, have adopted similar variable rate preferred shares. The gap, however, is widening. MicroStrategy accounted for the vast majority of public-company Bitcoin additions in January. The lesson is clear: scale and funding flexibility matter. If rivals cannot finance growth at similar costs, their per-share exposure will likely lag, and their mNAV multiples may compress during drawdowns.

Reading the MicroStrategy 100th Bitcoin purchase 2026 without the noise

This milestone is not about the raw number of coins added in one week. It is about stamina, cost of capital, and timing. A smaller buy shows prudence while still signaling long-term commitment. It protects cash, manages dividends, and leaves room to buy more if price weakens. For long-term Bitcoin holders, the playbook stays simple: set a steady schedule, guard your risk, and ignore drama. For MSTR watchers, keep your eyes on funding costs, dilution, and per-share Bitcoin, not just the headline buy count. In short, the MicroStrategy 100th Bitcoin purchase 2026 tells us the firm is still in the game, but it is playing smarter as markets test patience. React with discipline, measure risk before return, and let price action—not headlines—drive your next move.

(Source: https://decrypt.co/358830/strategy-100th-bitcoin-purchase-ever-smallest-2026)

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