Michael Saylor Continues Buying BTC: Decoding Institutional Investors' Long-Term Confidence

Strategy company founder Michael Saylor recently reiterated on CNBC: “We will not sell Bitcoin; we will continue to buy Bitcoin. I expect we will be buying Bitcoin every quarter forever.”

At the time of this statement, Strategy’s unrealized losses on Bitcoin had exceeded $6 billion, and market sentiment was in the “extreme fear” zone.

Strategic Commitment

As the entire crypto market experienced intense volatility, Michael Saylor and his founding company Strategy once again demonstrated their unwavering belief in Bitcoin through concrete actions.

Between February 2 and 8, 2026, Strategy raised approximately $89.5 million by selling some stock and used the proceeds to purchase 1,142 Bitcoin.

This purchase increased the company’s total Bitcoin holdings to 714,644 coins, with an average purchase cost of about $76,056 per Bitcoin.

Notably, during this transaction, Bitcoin’s price was retreating from recent highs, and market conditions were not optimistic. Data shows that in the week of purchase, Bitcoin’s price dropped 8.6%, and Ethereum fell 7.9%.

Institutional Resilience

In response to external concerns that the company might be forced to sell its Bitcoin holdings, Michael Saylor explicitly stated these worries were “baseless.” He emphasized multiple times that the company has built a balance sheet capable of withstanding market fluctuations.

Saylor pointed out that even if Bitcoin’s price drops significantly and remains low for several years, the company has enough capacity to manage through debt restructuring without being forced to sell its Bitcoin holdings. This stance sharply contrasts with some market speculation.

As of February 11, 2026, data shows that Strategy’s unrealized Bitcoin losses had grown to about $6.5 billion. At that time, Bitcoin was near $67,000, while the company’s average purchase cost was $76,052.

Despite such substantial paper losses, the company’s stock still traded at a premium over its Bitcoin holdings—about 9%. This phenomenon indicates that the market still has confidence in Saylor and his team’s strategy.

Source of Confidence

Saylor’s long-term confidence in Bitcoin stems from multiple factors. He believes that Bitcoin, as a “digital store of value,” naturally exhibits higher volatility than gold, stocks, or real estate.

In his view, true capital investors should have at least a four-year investment horizon. “If your investment horizon is less than four years, you’re not a true capital investor,” Saylor said. “Traders may benefit from price swings, but long-term investors focus on performance over a four-year cycle.”

Saylor also revealed an innovative financial strategy: by selling credit instruments equivalent to 1.4% of capital assets, the company can pay dividends in Bitcoin while continuing to increase its Bitcoin holdings. This plan demonstrates creative thinking in integrating Bitcoin into corporate finance structures.

Market Reality

The cryptocurrency market in February 2026 is undergoing a deep correction. According to Gate Ventures’ weekly market review, the total market cap of cryptocurrencies declined by 7.6%.

The extreme fear index remains at a low of 14, indicating investor confidence is lacking. Meanwhile, ETF fund outflows for Bitcoin and Ethereum reached new highs, approximately $689.2 million and $149.1 million, respectively.

In this context, Bitcoin’s real-time price on Gate exchanges is about $67,000, a clear retreat from the highs at the end of 2025.

Long-Term Outlook

Despite short-term market pressures, many institutions remain optimistic about Bitcoin’s long-term prospects. Institutions like Standard Chartered and Bernstein have adjusted their 2026 target prices for Bitcoin to around $150,000.

They believe Bitcoin is undergoing a fundamental transformation: gradually moving away from the strong “four-year halving cycle” volatility pattern toward a more resilient long-term growth trajectory. Factors driving this include the permanent access provided by spot ETFs, ongoing corporate treasury allocations, and potential macro policy support.

Gate’s research reports echo similar views, highlighting Bitcoin’s scarcity, inflation-hedging properties, and increasing institutional trust as strong supports for its long-term outlook. The reports also caution investors about Bitcoin’s volatility, regulatory uncertainties, and macroeconomic risks.

“The orange dot is important,” Michael Saylor recently wrote on social media, attaching Strategy’s Bitcoin holdings tracker. This phrase seems to refer not only to Bitcoin’s orange icon but also to the deeper significance behind each purchase.

Summary

On the Gate trading platform, Bitcoin was quoted at about $67,000 on February 11. Over the past week, despite an 8.6% decline, Michael Saylor’s Strategy increased its Bitcoin holdings by 1,142 coins.

Saylor’s statement on CNBC was even clearer: “We will not sell; we will buy Bitcoin. I expect we will be buying Bitcoin every quarter forever.” This commitment transcends market cycles, reflecting a long-term capital allocation philosophy.

Regardless of short-term market fluctuations, this long-term conviction among institutional investors may be the ultimate anchor for Bitcoin’s value network.