The post Strategy’s Bitcoin Position Is Now a Market Test appeared on BitcoinEthereumNews.com.

Bitcoin Strategy has quietly moved beyond being just another corporate Bitcoin holder. With 713,502 BTC on its balance sheet, the company now controls about 3.6% of Bitcoin’s total supply. Key Takeaways Strategy’s Bitcoin position now sits right at its average cost, making it a clear market reference point. Recent buys above market price increase downside sensitivity and reliance on continued demand. The risk isn’t leverage, but size and dependence on capital-market funding. At current prices, that exposure is valued at roughly $54.9 billion, with a realized average entry close to $76,000 – almost exactly where Bitcoin is trading now. This scale places Strategy, led by Michael Saylor, among the most influential single participants in the Bitcoin market. At this size, positioning itself becomes part of the broader market structure rather than just an expression of conviction. The equilibrium line the market is watching Strategy’s entire Bitcoin position is effectively sitting on its cost basis. That matters because markets don’t respond to belief or long-term narratives. They respond to where pressure builds when price moves. Currently, around 61% of Bitcoin’s supply is held at prices above the market, while roughly 39% sits below. Strategy’s average price now aligns almost perfectly with that balance point, turning its cost basis into a visible reference level. When price hovers here, attention naturally increases. Recent buying shifts the balance The latest purchase of 855 BTC at roughly $88,000 nudged Strategy’s marginal cost higher and added size that is already in the red. As a result, more of the company’s Bitcoin exposure now sits above market price than below it. This subtly changes the risk profile. Downside moves begin to hurt faster, while upside increasingly depends on continued demand rather than simply waiting out volatility. Buying power starts to matter more than belief alone. Not leveraged,…

---

Filed under: News - @ February 4, 2026 1:23 am