A lot of people forget that not only is 2026 a down year for Bitcoin... 2025 was as well. Strategy had 446,400 BTC at the start of 2025, × $94,388 = ~$42.13B of BTC Now they have 843,775 BTC × $62,237.84 = ~$52.51B So even though Bitcoin’s price is DOWN 34.1%, Strategy’s Bitcoin reserve value is UP 24.6%. Price fell 34%, but coin count rose 89%, so the BTC reserve value still went up. Without the buying, the starting 446,400 BTC would now be worth only ~$27.78B Instead, the actual stack is worth about~$52.51B. Yup. $24.73B of current BTC reserve value created by bear-market accumulation. $MSTR is going to FLY in the bull run if they can do this in a bear market.
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