In the last 24 hours, a “sensation” has spread across the feeds 🤮: Strategy has bought bitcoin again - for about $90 million at an average price of around $79k. And, of course, the usual comments started: “they've hit the local top again 😂”, “Saylor is the worst buyer on the planet 😠“ that’s it, it’s the end, now they will definitely crash 🫡”.
At first glance, the emotions are understandable. When there is a company of such scale in the market, people feel that one wrong step will trigger a domino effect: sell-offs, panic, a hit to the entire crypto market. Buying in a bear market at a “high” price seems like deliberately pouring oil on the fire.
😐 But let’s pause and do what almost no one does on Twitter: let’s look not at the headline, but at the mechanics and the numbers. Because the real picture for Strategy is noticeably calmer than it is painted in the comments.
I became interested in breaking down all existing FUD based on facts, so let’s do it together 🆗
1. “Saylor always buys at the local top, meaning he is the worst BTC buyer” 🪞
⚠️ It is important to understand - Strategy buys BTC not “at a price,” but “when money appears.” This is not trading and not an attempt to guess the level. Usually, the scheme is simple: the company raises capital (sells its shares/attracts investors) → with that money, it buys more BTC. Therefore, purchases often coincide with moments when the crowd is particularly emotional and the price is high: simply because it is easier to attract capital then.
💵 Numbers: a purchase of ~$90 million sounds loud, but against their total volume of ~713,000 BTC, it is a tiny addition. It hardly changes the average purchase price and does not turn the situation into “we put everything on one entry.”
2. “BTC below their average THX, soon they will start dumping!” 😥
⚠️ Here is the most important stop-fact that usually doesn’t come up in panic threads: at the beginning of 2026, Strategy has no debt secured by bitcoin!
Translating to human terms: there is no mechanism “price drops → creditor takes collateral → BTC sold.”
That is, there are no margin calls on BTC and no automatic sell triggers, even if the price stays below their average for a long time (~$76k). This fundamentally distinguishes them from players who are sitting on collateralized loans against crypto.
3. “If BTC goes to 50k/40k/35k it’s the end for them and everything will collapse”💩
This is the most beloved fear, but it is based on feelings, not on balance.
💵Numbers (simplified, but indicative):
— total debt of MSTR is about ~$8.2 billion
— BTC on the balance ~713k
⚠️ Even with BTC at $35–45k, the value of their BTC reserve is tens of billions of dollars, meaning it is several times greater than their debt. This is an unpleasant market, it impacts reporting and stock prices, but it’s not a “forced selling point” and not “death at the first move down.”
🚩 At this point, the important thought is: for Strategy, it is critical not “did we reach 50k,” but “how long will the bear market last and will there be an opportunity to attract capital if stocks fall.” That is, their risk is based on the duration of the cycle and the availability of money, not on one specific price level.
In the next posts, we will break down the remaining points: can they pay interest/dividends without selling BTC, when do major repayments actually occur for Strategy, and where is their true “red zone” for the price of BTC.
