Strategy acquired 1,142 bitcoins for approximately $90 million, at an average cost of about $78,815 per bitcoin, bringing its total bitcoin holdings to 714,644. Shortly after the company reported a $17.4 billion operating loss in the fourth quarter due to a decline in the bitcoin price, Saylor responded assertively to market concerns in an interview.
Key Market Developments
Recent market volatility centers on the overall pressure facing tech stocks and risk assets. Since reaching an all-time high of $124,700 in October 2025, bitcoin’s price has been on a steady decline.
Concerns about a shift in Strategy’s approach stem from two main pressures: the company’s substantial unrealized losses due to bitcoin’s price drop, and broader market conditions. In the fourth quarter, Strategy posted a $17.4 billion operating loss and a net loss of $12.6 billion, primarily driven by unrealized losses from the decline in bitcoin’s value.
At the same time, crypto-related stocks have generally underperformed. In Tuesday’s trading, Coinbase fell 2.8% and Strategy’s own stock dropped 3.9%. These market moves have heightened investor concerns about the financial stability of related companies.
Saylor’s Firm Stance
In an interview with CNBC, Michael Saylor directly addressed market worries: "This is a completely unfounded concern." He emphasized that not only will Strategy not sell its bitcoin, but it will also continue to make regular purchases. "We’re not sellers; we’re going to buy bitcoin." Saylor stated clearly, "I expect we’ll be buying bitcoin every quarter, forever."
He explained that Strategy’s financial position is stronger than that of many traditional investment-grade companies. The company’s balance sheet cash is sufficient to cover about two and a half years of dividends and debt obligations. Even in the event of a prolonged bitcoin price decline, Saylor said the company has multiple contingency plans. "If bitcoin drops 90% over the next four years, we’ll just refinance the debt."
The Unique Nature of Digital Assets
Saylor described bitcoin as "digital capital," noting that volatility is an inherent characteristic of this asset class. He believes bitcoin’s volatility is two to four times that of traditional capital assets such as gold, stocks, or real estate. In his view, this volatility is both a risk and a core part of bitcoin’s unique value proposition. "Volatility is a flaw, but volatility is also a feature."
Saylor stressed that investors should take a longer-term perspective on bitcoin. "If your investment horizon is less than four years, you’re not really a capital investor," he said. "Long-term investors should focus on performance over a four-year cycle." Based on this outlook, he predicts that bitcoin will outperform the S&P 500 by two to three times over the next four to eight years.
Current Bitcoin Market Overview
As of February 11, 2026, according to Gate market data, bitcoin is trading at $66,909.6, with a 24-hour trading volume of $90.817 billion.
Here’s a summary of key bitcoin market indicators:
| Indicator Category | Specific Data | Notes |
|---|---|---|
| Price Dynamics | 24h Change: -3.41% | 24h High: $69,997.3 |
| 7d Change: -11.59% | 24h Low: $66,561.8 | |
| 30d Change: -23.78% | All-Time High: $126,080 | |
| Market Cap Info | Market Cap: $1.38 trillion | Market Dominance: 55.93% |
| Fully Diluted Market Cap: $1.38 trillion | Circulating Supply: 19.98M BTC | |
| Market Forecast | 2026 Avg. Forecast Price: $69,065 | Forecast Range: $61,467.85 - $98,762.95 |
Recent drivers behind bitcoin’s price decline include: shifting interest rate expectations following the nomination of a hawkish Federal Reserve chair, escalating geopolitical tensions, and capital rotation out of risk assets.
Notably, the Bernstein analyst team recently reiterated their long-term bullish outlook on bitcoin, describing the current pullback as the weakest bear market in bitcoin’s history. They forecast that bitcoin could reach $150,000 by the end of 2026.
Institutional Perspectives on Bitcoin’s Value
Saylor’s view is not isolated—an increasing number of institutional investors are treating bitcoin as a strategic asset. In the interview, Saylor noted that Strategy’s digital credit structure has become one of the most active credit instruments of the past decade. He explained that the cash flows generated by this structure far exceed those of traditional fixed-income products, and trading volumes surpass those of preferred shares. Through innovative financial engineering, Strategy has successfully created bitcoin-based financial products, attracting significant institutional investment.
Regarding bitcoin’s role in the AI-driven economy, Bernstein analysts offered an intriguing perspective: blockchain and programmable wallets are well-suited for the emerging "agent-based" digital environment, as autonomous software agents require global, machine-readable financial rails. This view opens up new possibilities for bitcoin’s future use cases, positioning it not just as a store of value but also as foundational infrastructure for the digital economy ahead.
On the Gate trading platform, bitcoin trading data reveals subtle shifts in market sentiment. Over the past 24 hours, bitcoin’s market cap dipped by 3.41%, but the total market cap of $1.38 trillion still accounts for over 55% of the entire cryptocurrency market. Futures market data shows that the CME bitcoin May 2026 contract is priced at $70,435, while the December 2026 contract has reached $71,955, indicating continued medium- to long-term optimism.
On the wall of Saylor’s office hangs a chart of bitcoin’s price trajectory, with a curve that has risen almost vertically since 2010. Whenever visitors express concern about recent price fluctuations, he points to the chart: "Look, we’re just experiencing a minor blip on this long-term upward trend."
