Enhanced Bitcoin Buying Strategy as 2026 Approaches Amid Challenging Market Conditions

Although currently in the holiday season, the largest Bitcoin holder, Strategy, continues to maintain a positive stance in the market. The company has just announced a new Bitcoin purchase, demonstrating its commitment to increasing its cryptocurrency reserves as it enters 2026. According to Michael Saylor’s announcement last weekend, this move is driven by positive market signals for further buying activity.

Latest Bitcoin Purchase Activity by the Largest Holder

In the recently filed 8-K with the SEC, Strategy revealed it had made a Bitcoin purchase worth $116.3 million. Specifically, the company added 1,286 BTC at an average purchase price of $90,391 each. After this purchase, Strategy’s total Bitcoin holdings increased to 673,783 BTC, representing an enormous investment of $63 billion.

This figure reflects the company’s ongoing Bitcoin accumulation strategy, especially following Trump’s victory at the end of 2024. Since then, Strategy has spent $50.6 billion to expand its reserves, raising the average purchase cost to $75,026 per BTC.

$2.25 Billion Cash Reserve Awaiting MSCI Decision

In addition to current buying activities, Strategy has also increased its cash reserve to $2.25 billion. This fund is set aside in anticipation of a key decision from MSCI on January 15 regarding the classification of Bitcoin-holding companies as index funds.

If MSCI grants a favorable classification, Strategy plans to immediately convert this entire cash reserve into Bitcoin purchases, further expanding its holdings significantly. This is a strategic move that demonstrates the company’s strong commitment to large-scale Bitcoin acquisitions.

Challenges from mNAV Below 1 and Upcoming Market Risks

However, Strategy faces notable challenges. The company holds over 3% of the total global Bitcoin supply, but its Market Net Asset Value (mNAV) is currently at 1.01—recovering after dropping below 1 last week.

If Bitcoin’s price does not continue to rise and mNAV remains below 1, Strategy could face difficulties in borrowing and may even be forced to sell Bitcoin to maintain its stock price. The situation could worsen if market volatility persists.

January and the following months are expected to be volatile with inherent risks. The ongoing Bitcoin purchase strategy combined with cash management will play a crucial role in helping Strategy navigate these challenging market conditions and maintain its position as one of the world’s leading Bitcoin holders.