World’s Largest Corporate Bitcoin Holder Now Selling Instead of Buying?

▲ Strategy (MSTR), Bitcoin (BTC)/ChatGPT-generated image ©

An analysis has found that Strategy, the world’s largest corporate holder of Bitcoin, has begun 2026 facing “sell” opinions rather than “buy” recommendations.

According to investment media outlet The Motley Fool on Feb. 15 (local time), Strategy aggressively accumulated Bitcoin (BTC) over the past five years and, as of the first week of February, holds 713,502 BTC worth approximately $50 billion. The company subsequently invested an additional $90 million to purchase 1,142 BTC more, bringing its total holdings to 714,644 BTC, accounting for more than 3% of the total circulating supply.

The problem lies in the current price. Strategy’s average purchase price stands at $76,056 per Bitcoin, while Bitcoin is currently trading below $70,000. As a result, the company’s Bitcoin holdings have entered an unrealized loss territory, and in the fourth quarter of 2025 it recorded a net loss of $12.4 billion after reflecting impairment losses on its holdings.

The stock price has also taken a direct hit. Strategy’s market capitalization stands at around $38 billion, and its share price has plunged about 60% over the past 12 months, falling to a 52-week low of $104. Given that the company has financed new Bitcoin purchases through share issuances, the stock’s decline is placing additional pressure on its capacity for further acquisitions.

The Motley Fool assessed that under current conditions, it may be more reasonable to buy Bitcoin directly rather than invest in Strategy shares. With the company’s market capitalization of $40 billion now lower than the $50 billion value of its Bitcoin holdings, the rationale for paying a premium has weakened. The outlet concluded that a cautious approach is warranted in 2026 for major Bitcoin treasury companies, including Strategy.

In conclusion, investment appeal in Strategy appears limited until Bitcoin prices recover meaningfully. Many analysts believe that Bitcoin would need to regain the $100,000 level for a reevaluation of the company’s value, suggesting that a direct holding strategy may be more advantageous for the time being.

Disclaimer: This article is for investment reference only, and we are not responsible for any losses arising from investment decisions based on it. The content should be interpreted solely for informational purposes.