MicroStrategy buys an additional 592 Bitcoins! Saylor's bold gamble: either go to zero or surge to hundreds of thousands of dollars

Strategy reinvested $39.8 million to buy an additional 592 Bitcoin, bringing total holdings to 717,722 coins, with an unrealized loss of $7.1 billion amid market bearish pressure.

Unfazed by the “crypto winter,” the most steadfast institutional Bitcoin holder has once again stepped in to buy. According to an 8-K filing with the U.S. Securities and Exchange Commission (SEC) on Monday, Strategy, a publicly traded company led by Michael Saylor, announced that last week it purchased 592 Bitcoin at an average price of $67,286 per coin, spending $39.8 million.

After this latest purchase, Strategy’s Bitcoin holdings reached 717,722 coins, valued at approximately $47.5 billion. However, the total cost basis (including fees and related expenses) was $54.6 billion, resulting in an unrealized loss (floating loss) of $7.1 billion.

Image source: X/@saylor

Strategy stated that the latest round of Bitcoin purchases was mainly funded by the sale of Class A common stock (NYSE: MSTR). Last week, the company sold 297,940 shares of MSTR, raising about $39.7 million.

Michael Saylor, Executive Chairman of Strategy, recently told Fox Business that the cryptocurrency market is indeed in a “down cycle,” but he emphasized that this “winter” is milder and shorter than previous cycles.

Saylor posted on X, encouraging the community: “We may be in a crypto winter, but spring is coming, and Bitcoin will ultimately prevail.”

He further stated, “If Bitcoin doesn’t go to zero, it will eventually rise to $1 million.”

Image source: X/@saylor

Saylor’s optimism stems from a significant increase in institutional and financial sector support for Bitcoin, along with ongoing technological advancements in the digital asset ecosystem and continuous capital inflows.

Despite Saylor’s confidence, market data has cast a cold shower. As Bitcoin has fallen from its peak, the stock prices of many “HODL companies” have sharply corrected since the summer of 2025.

For example, Strategy’s stock price has declined by 71% from its high, with the current market value-to-net asset value ratio (mNAV) at about 1.01, returning close to asset value and nearly eliminating premium.

Nic Puckrin, co-founder of Coin Bureau, warned that as Bitcoin prices plummet, many companies that include digital assets on their balance sheets are under enormous pressure. For instance, Nakamoto’s stock price has plummeted 99.3% over the past 280 days, with paper losses reaching $270 million.

Puckrin pointed out that Bitcoin-related financial firms have experienced three consecutive weeks of selling, a first since the rise of “HODL companies.” As the market chain reaction expands, more companies may be forced to liquidate in the coming weeks, pushing Bitcoin prices toward bear market lows.

• This article is reprinted with permission from BlockCast
• Original title: “Not Zeroing Out, Just Going to $1 Million! Strategy Buys 592 More Bitcoins”
• Original author: Block Sister MEL