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MSTR Stock Drops as Strategy Buys 592 Bitcoin for $39.8M

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MSTR Stock Card

TLDR

  • Strategy completed its 100th Bitcoin purchase with a 592 BTC acquisition worth about $39.8 million.
  • The company increased its total Bitcoin holdings to 717,722 BTC after the latest buy.
  • Strategy funded the purchase through the market sales of its Class A common stock.
  • The firm reported an average purchase price of $67,286 per Bitcoin for the latest tranche.
  • MSTR stock traded lower in pre-market hours following the SEC filing disclosure.

Strategy confirmed its 100th Bitcoin acquisition in a new SEC filing on February 23, 2026. The company purchased 592 Bitcoin for about $39.8 million between February 17 and February 22. The disclosure arrives as MSTR stock trades lower and Bitcoin hovers near $66,000.

Strategy Expands Bitcoin Holdings With 592 BTC Purchase

Strategy reported that it paid an average of $67,286 per Bitcoin, including fees and expenses. The purchase increased total holdings to 717,722 Bitcoin.

The company funded the acquisition through at-the-market sales of Class A common stock. During the same week, it sold 297,940 shares for about $39.7 million and used the proceeds for the purchase.

Strategy stated that about $7.8 billion in shares remain available under the program. The company has used this mechanism for prior Bitcoin purchases.

One week earlier, Strategy disclosed the purchase of 2,486 Bitcoin for about $168 million. That transaction carried an average price of $67,710 per coin.

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With the latest addition, Strategy reported total acquisition costs of about $54.56 billion. The company’s average purchase price across all holdings stands at $76,020 per Bitcoin.

At market prices near $66,000, the position reflects an unrealized loss based on reported averages. The gap equals roughly $10,000 per coin, or about $7 billion overall.

Michael Saylor, co-founder and executive chairman, previewed the milestone on social media. He wrote “The Orange Century” before the company released the filing.

Strategy began accumulating Bitcoin in August 2020 and has reported each transaction. The filings list purchase dates, amounts, and average prices.

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MSTR Stock Reaction and Market Context

MSTR stock traded lower in pre-market hours following the disclosure. Shares have declined more than 50% year over year.


MSTR Stock Card
Strategy Inc, MSTR

Bitcoin fell below $65,000 before recovering toward $66,000. The drop triggered over $360 million in leveraged liquidations across crypto markets.

Strategy stated that its holdings represent more than 3.4% of Bitcoin’s 21 million supply cap. The concentration places the company among the largest corporate holders.

Industry data lists 193 public companies that hold Bitcoin on their balance sheets. The group includes miners, exchanges, and firms with treasury allocation programs.

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Saylor recently described the current phase as a “crypto winter.” He said it appears milder than prior cycles and may prove shorter.

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Crypto World

South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

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South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

South Korea has ordered all crypto exchanges to reconcile their internal ledgers with actual asset holdings every five minutes after an inspection uncovered weaknesses in internal controls.

The directive was announced on Monday by the Financial Services Commission (FSC) after a meeting with top crypto exchanges and the Digital Asset Exchange Alliance (DAXA), during which they discussed the findings of an emergency inspection triggered by the Bithumb payout incident.

The inspection found that three of the country’s five major exchanges were reconciling balances only once every 24 hours, limiting their ability to respond quickly to discrepancies. Systems designed to halt trading during major mismatches were also found to be insufficient, raising concerns about how exchanges would handle large-scale errors.

In February, Bithumb mistakenly distributed 620,000 Bitcoin (BTC) to 249 users during a promotional event. The exchange later announced that it recovered 99.7% of the funds the same day. The remaining 0.3%, 1,788 BTC that had already been sold, was covered using company reserves.

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Related: Bithumb seeks to reappoint CEO despite recent controversies: Report

South Korea mandates five-minute asset checks

Under the new measures, exchanges must implement automated ledger-to-wallet reconciliation systems operating on a five-minute cycle. They will also be required to introduce defined criteria for triggering automatic transaction halts in the event of significant discrepancies.

Beyond reconciliation, regulators are pushing for sweeping changes to internal operations. High-risk processes like promotional payouts will require stronger oversight, including third-party cross-checks and multi-level approval systems. Exchanges will also need to separate high-risk accounts and implement automated verification tools for payments.

Top Korean crypto exchanges. Source: CoinGecko

Furthermore, external audits will shift from quarterly to monthly, while disclosures will expand to include detailed asset balances by wallet and ledger.

“The financial authorities and the DAXA plan to complete the rule changes needed to implement the improvement measures within April this year,” the FSC wrote.

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Related: South Korean brokerage Korea Investment & Securities eyes Coinone stake: Report

Bithumb delays IPO to post-2028

Last week, Bithumb announced it is now targeting an IPO after 2028, marking another delay from its earlier 2025 plans as it works through restructuring and regulatory pressure. The exchange said it will focus on strengthening accounting policies and internal controls through 2027, following an advisory agreement with Samjong KPMG.

Meanwhile, Naver Financial has also delayed its planned share swap with Dunamu by about three months, now targeting a shareholder vote on Aug. 18 and completion by Sept. 30.

Magazine: South Korea gets rich from crypto… North Korea gets weapons

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