Strategy Inc. undertook a significant Bitcoin purchase last week, adding 855 bitcoins to its holdings at an average cost of $87,974 per coin. The acquisition was executed over several days between January 26 and February 1. To finance this $75.3 million transaction, the company sold 673,527 Class A shares, generating net proceeds amounting to roughly $106.1 million.
This fresh Bitcoin purchase, however, immediately faced headwinds as the cryptocurrency’s price plummeted below $75,000 over the ensuing weekend. Consequently, these latest acquisitions entered the market at a loss almost immediately due to the rapid decline. Strategy Inc.'s cumulative Bitcoin portfolio now consists of 713,502 bitcoins purchased at an average price of $76,052 each, representing a total investment of $54.26 billion.
With Bitcoin's market price currently hovering near $77,000, Strategy Inc.'s overall Bitcoin assets stand just marginally above breakeven. This data reflects more than five years of gradual accumulation at varying price points.
Amid these developments, prominent financial commentator Jim Cramer expressed concerns during recent market commentary. He drew attention to Bitcoin's decline to approximately $74,000—the lowest level observed since April 2025—and questioned the presence and capacity of Bitcoin advocates to support the market at crucial technical junctures.
Cramer repeatedly spotlighted Strategy executive chairman Michael Saylor, a noted Bitcoin proponent, pondering whether Saylor retains sufficient capital resources (“dry powder”) to counteract intensified sell-offs. He identified $73,000 as a critical support level for Bitcoin, emphasizing that recovery above $77,000 is essential for establishing a foundation for potential future appreciation.
Despite these calls, Cramer remained skeptical regarding the effectiveness of interventions by Bitcoin's usual defenders to prevent further downward pressure. He framed the recent price volatility as a reminder of Bitcoin's inherent instability and its limitations when considered as a short-term currency form. Cramer noted his personal holdings in Bitcoin, yet underscored the risks associated with holding such a volatile asset even in the short term.
Regarding Strategy Inc.'s stock performance, the share price recently broke below a previously sustained consolidation range between $145 and $165. Presently, the stock is testing significant support zones near $138 to $146.
Technically, the stock is trading approximately 45% beneath its 200-day moving average, signaling an extremely bearish momentum. All four exponential moving averages (EMAs) also lie above current prices, with the 20-day EMA at $161.27, 50-day EMA at $180.92, 100-day EMA at $221.04, and 200-day EMA at $259.04. This substantial gap manifests persistent downward pressure on the share price.
If the critical support level between $138 and $146 fails, the next anticipated support bands appear near $120 to $125, and subsequently at the psychological threshold of $100.
These market movements highlight ongoing challenges for Strategy Inc. as it navigates a turbulent Bitcoin landscape, balancing large-scale crypto accumulation financed through equity sales against a backdrop of volatile cryptocurrency prices and technical pressures on its stock.