Strategy Buys 2,486 BTC for ₱9.73 billion ($168 million) Despite 10.7% Portfolio Loss

Strategy picked up 2,486 BTC for ₱9.73 billion ($168 million) between February 9 and 16, even as its entire Bitcoin treasury sits underwater. Co-founder and Chairman Michael Saylor announced the purchase Tuesday, marking the company's 99th Bitcoin acquisition since adopting its treasury strategy in 2020.

The company paid an average of ₱3,919,610 ($67,710) per coin, bringing its total holdings to 717,131 BTC with a cost basis of ₱3.16 trillion ($54.52 billion) against a current value of ₱2.82 trillion ($48.66 billion) — a 10.7% unrealized loss that puts the company's average acquisition cost at ₱4,401,066 ($76,027) per Bitcoin.

Strategy funded the purchase through at-the-market stock offerings of both STRC and MSTR shares. Saylor said the company plans to equitize its convertible debt over the next three to six years, adding that Strategy can withstand a Bitcoin drawdown all the way to ₱463,106 ($8,000) and still cover its debt obligations.

Bitcoin's collapse since the end of January dragged prices below Strategy's cost basis for the first time, yet the company continues its accumulation pattern. Saylor typically posts hints about purchases on Sunday, with formal announcements following on Monday — this week's Presidents' Day holiday pushed the announcement to Tuesday.

BitMine, the largest Ethereum treasury company, recently acquired 45,759 ETH, bringing its total holdings to 4,371,497 ETH — representing 3.62% of Ethereum's total circulating supply. Chairman Tom Lee said the price of ETH doesn't reflect its high utility and role as the future of finance.

Bitcoin traded around ₱3,919,031 ($67,700) at the time of the Tuesday announcement, down 2% over the past seven days.