MicroStrategy Rebrands to Strategy, Scoops 2,486 BTC for $168M Amid ETF Bleed – Dip-Buying Empire Grows

Strategy, formerly MicroStrategy, kept buying Bitcoin, picking up 2,486 BTC for $168.4 million between February 9–16, 2026. They paid an average of $67,710 per coin.

This was the fourth-biggest buy of the year, bringing their total to 717,131 BTC, worth about $48.8 billion at current prices. This action happened as spot Bitcoin ETFs saw continuous outflows, showing Strategy's plan to buy when prices drop to around $60K–$70K.

They funded the purchase with $90.5 million from common stock sales and $78.5 million from preferred shares (at 11.25% yield), which allowed them to raise capital without diluting shares. Recent purchases include 1,142 BTC on February 9 for $90 million (average of $78,815), bringing holdings to 714,644 BTC at that time. Smaller buys from February 2–8 were included in weekly reports. In 2026, they've bought over 45,000 BTC at an average cost of about $76,000, resulting in roughly $8 billion in unrealized gains, even with market swings.

With Michael Saylor in charge, Strategy sees Bitcoin as a better reserve asset, supported by a $2 billion USD liquidity buffer. This is very different from the over $410 million in February ETF outflows, mirroring institutional accumulation by groups like Abu Dhabi's sovereign funds. The company's stock is trading higher than its net asset value, with year-to-date gains of around 25%, as they aim to accumulate over 1 million BTC through equity and preferred issuance long-term.