Bitcoin News Today: MSTR's Bitcoin Push: Strategic Shift or Controversial Gamble?

Michael Saylor's MicroStrategy (MSTR) has resumed aggressive Bitcoin (BTC-USD) purchases, acquiring 8,178 BTC for $835.6 million in the past week, according to a report. The acquisition, priced at an average of $102,171 per coin, marks a return to bulk buying after months of smaller, incremental purchases. The move was funded largely through the sale of preferred shares, including $715 million from its Steam (STRE) offering and $131.4 million from its Stretch (STRC) series.

Saylor, the company's CEO, emphasized the strategic importance of Bitcoin amid a broader market sell-off. "We're buying quite a lot," he told CNBC, noting that the firm would disclose further details on Monday. BTC prices had dipped below $95,000 for the first time in six months, prompting renewed interest in MSTR's leveraged Bitcoin treasury model. . The company now holds 649,870 BTC, valued at $48.37 billion, with an average cost of $74,433 per coin.

The recent purchase aligns with MSTR's broader pivot to preferred financing, which analysts say reflects a shift toward more sustainable capital raising. Unlike convertible bonds, preferred shares avoid diluting common stock, a critical consideration as MSTR's enterprise value now sits just above its Bitcoin holdings at $199 per share. "The premium exists because investors are buying a management team with global capital access," noted Rohan Hirani, a crypto analyst on X.

While MSTR's strategy has drawn criticism, including a recent "fraud" label from economist Peter Schiff, analysts argue the firm's dual exposure to Bitcoin price appreciation and incremental BTC per share could still outperform direct Bitcoin ownership. As of November 9, 2025, MSTR's Bitcoin stash retained roughly 26% unrealized gains even if BTC retraced sharply to $94,500.

. The broader crypto market has seen mixed signals. Strive, Inc. added 5,886 BTC to its treasury in Q3 2025, though it reported a GAAP net loss of $192.3 million driven by non-recurring and non-cash items. Meanwhile, BTCS Inc. reported record revenue and expanded its Ethereum holdings to 70,322 ETH, valued at $291.58 million.

Notably, MSTR's VP Wei-Ming Shao filed to sell 2,600 restricted shares under a prearranged trading plan, a move that could signal internal confidence or liquidity needs.

As the market grapples with volatility, MSTR's strategy underscores the evolving role of corporate treasuries in Bitcoin adoption. "Bitcoin is always a good investment," Saylor reiterated, though he cautioned that investors must tolerate short-term swings for long-term gains.