Strategy Inc. (MSTR) keeps doing what it does best: buying Bitcoin with Other People's Money. The company just scooped up 13,627 Bitcoin (BTC) for $1.25 billion at an average price of $91,519 per coin. It's an impressive haul, except for one small problem. The stock itself is teetering around $150 support, threatening to break down just as the company doubles down on its crypto bet.
The Biggest Bitcoin Buy in Months
This purchase marks Strategy's largest Bitcoin acquisition in 2026 and the biggest since July 2025, surpassing two separate $1 billion purchases made back in December. The company now holds a staggering 687,410 Bitcoin acquired for a total of $51.80 billion at an average price of $75,353 per coin. We're talking about closing in on the 700,000 BTC milestone here.
How did they pay for it? The usual playbook: selling equity. Strategy funded this week's purchase by offloading 1.2 million STRC preferred shares for $119.1 million and 6.8 million MSTR common shares for $1.13 billion. Dilute shareholders to buy Bitcoin, rinse, repeat.
Executive Chairman Michael Saylor telegraphed the move Sunday with his signature cryptic social media post, this time showing the company's Bitcoin portfolio tracker with the caption "₿ig Orange." Subtle as always.
This was actually Strategy's second purchase this year. Between December 29 and January 4, they picked up 1,286 BTC for $116 million. The timing is notable as the Clarity Act markup approaches this week, potentially bringing more regulatory clarity to the crypto space.
Technical Picture Looks Rough
Here's where things get uncomfortable for MSTR shareholders. The stock is grinding near critical $150 support after a catastrophic 67% decline from July's peak. It's trapped below every major moving average you'd care to look at: the 20-day EMA sits at $164.46, the 50-day at $193.81, the 100-day at $238.36, and the 200-day at $272.37.
The Supertrend indicator remains firmly bearish at $181.47, while a descending channel from summer highs continues compressing the price lower. What's especially concerning is the stock's inability to generate any meaningful bounce despite extreme oversold conditions. That's not usually a good sign.
The $150 Level Is Everything Right Now
The $150 level represents critical floor support that has held through multiple tests. If it breaks, the next stops are $140-145, followed by the psychological $120-130 zone. Losing $120 risks a complete collapse toward $100 or lower, which would be genuinely ugly for anyone who bought in the past year.
For bulls, the path to recovery requires a decisive reclaim of $164 (the 20-day EMA), then $175-180. Breaking above $193 (the 50-day EMA) would signal the first real reversal signs, while ultimate recovery targets sit in the $238-272 zone where the 100-day and 200-day EMAs reside.
On shorter timeframes, the stock is coiling in a tight range between $155-158 with VWAP at $156.64 acting as the immediate pivot point. That kind of compression usually means a resolution is coming soon. The question is which direction it breaks.
