By Mackenzie Tatananni
Hours before Strategy, the world's largest corporate holder of Bitcoin, was set to report quarterly earnings on Thursday, the price of the cryptocurrency was sinking.
Shares were down 5.2% in premarket trading, following the price of Bitcoin lower as the crypto slumped 3.9% to $70,477 over the past 24 hours, according to CoinDesk. It hasn't fallen this low since November 2024, when the token traded at $68,898.
Notably, the price also was lower than Strategy's average purchase price, according to a securities filing earlier this week. Strategy purchased 855 tokens for roughly $87,974 each, or $75.3 million in total, between Jan. 26 and Feb. 1. The purchase brought its total holdings to 713,502 tokens.
Strategy is slated to report earnings after the closing bell. Although the company generates some revenue from its legacy software business, it is widely viewed as an investment vehicle that holds Bitcoin. It is debated whether it should be considered a passive asset holder or an operating company.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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February 05, 2026 07:04 ET (12:04 GMT)
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