New York, Feb 10, 2026, 10:41 a.m. EST — Regular session
- Strategy shares fell in early trading as bitcoin hovered near $69,000.
- A filing showed the company sold stock to fund a fresh $90 million bitcoin purchase last week.
- Traders are watching crypto prices and Friday’s U.S. CPI report for the next jolt.
Strategy Inc shares dipped on Tuesday after executive chairman Michael Saylor said the company would keep buying bitcoin every quarter and refinance debt if the token stays under pressure.
The stock trades like a high-octane proxy for bitcoin, and the market has been jumpy about how long Strategy can keep funding purchases without leaning harder on new stock sales.
That matters now because the company’s latest disclosure again tied fresh bitcoin buying to equity issuance, a combination that can lift holdings but also dilute existing shareholders when the share price is weak.
Strategy shares were down about 1.6% at $136.29 in morning trading after sliding as much as roughly 5% earlier. Bitcoin was down about 0.4% at $69,240, and other crypto-linked stocks including Coinbase, Marathon Digital and Riot Platforms also edged lower.
In an 8-K filed on Monday, Strategy said it bought 1,142 bitcoin for about $90.0 million in the week ended Feb. 8, paying an average $78,815 per coin including fees and expenses. The company said it held 714,644 bitcoin as of Feb. 8, bought for $54.35 billion at an average $76,056. 1
The same filing showed Strategy sold 616,715 shares under its at-the-market program — a facility that lets a company drip shares into the market over time — raising net proceeds of $89.5 million. It said it had about $7.97 billion of capacity remaining for sales under its common-stock ATM program. 1
Saylor tried to cool concerns about credit risk in an interview on CNBC’s “Squawk Box,” saying the company would roll its obligations rather than sell bitcoin if the downturn drags on. “If bitcoin falls 90% for the next four years, we’ll refinance the debt,” he said, adding: “I expect we’ll be buying bitcoin every quarter forever.” 2
Strategy, formerly MicroStrategy, has built its balance sheet around bitcoin and uses capital markets to add to its stash, a playbook that can magnify gains when crypto rises and intensify pain when it falls. 3
The company posted a $12.4 billion quarterly loss last week as a steep slide in bitcoin battered the value of its holdings, Reuters reported, a reminder that accounting swings can dominate results when crypto is moving fast. 4
But the trade cuts both ways. If bitcoin sinks again, Strategy’s ability to sell stock at attractive prices can shrink quickly, and any bigger push into equity issuance risks stoking dilution worries just as investors demand more balance-sheet caution.
Traders are also bracing for U.S. inflation data on Friday, when the Labor Department is scheduled to release the January consumer price index at 8:30 a.m. ET — a report that often moves rate expectations and risk assets such as bitcoin. 5
