MicroStrategy kicks off the New Year by restarting Bitcoin acquisitions: soaring financing costs change the game

2026-01-06 18:00:10

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【Crypto World】MicroStrategy restarted its Bitcoin acquisition plan in early January, investing $116 million to buy 1,283 Bitcoins at an average cost of approximately $90,391 per coin. Behind this seemingly aggressive move, the financing environment has actually changed dramatically.

Last year, they could finance with low-cost convertible bonds. Now? High-cost preferred stocks and dilutive common stocks have become the main options, with actual cash costs soaring to 10-12.5%. This is awkward—due to the stock price underperforming Bitcoin’s net asset value, large-scale acquisitions not only cost more but also cause more dilution for existing shareholders.

In other words, MicroStrategy’s role in 2026 may need to be rewritten. From once being a Bitcoin price driver, it has gradually become a buyer that only makes moves at specific times. The wall of financing costs is limiting their ambition to continue “all in.”

BTC-0,3%

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PerennialLeek

· 2h ago

The skyrocketing financing costs directly turned them from "Bitcoin whales" into "opportunistic retail investors," hilarious.

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TokenRationEater

· 2h ago

Financing costs soar, and MSTR's "all in" dream is shattered. Frankly, it still depends on BTC's performance to survive.

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MissedAirdropAgain

· 01-07 10:44

The surge in financing costs has directly changed the game... This wave of MSTR is a bit awkward; the once major Bitcoin backer now has to bow and scrape.

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BrokeBeans

· 01-06 18:30

The surge in financing costs has changed everything. Microstrategy has gone from a Bitcoin advocate to a discount buyer. I understand this logic.

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CryptoSurvivor

· 01-06 18:27

Oh no, the financing costs are skyrocketing, MSTR is having a tough time this round. --- Basically, they have no money left and still have to pretend they're playing chess. --- 10-12.5% financing costs? Who can handle that? No wonder they only bought over 1,200 coins now. --- From a driving force to an opportunistic buyer, the turnaround is pretty quick. --- Shareholders are expected to suffer heavy losses, diluted to tears. --- As soon as the financing environment changes, the true nature is revealed. Is this what they call all in?

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TradFiRefugee

· 01-06 18:27

Financing costs soar, even the big players have to hold back. This is the real market...

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PanicSeller

· 01-06 18:25

Financing costs soar, and MSTR's story isn't as attractive anymore. Now it's their turn to be more meticulous with their expenses.

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QuorumVoter

· 01-06 18:19

The soaring financing costs have completely changed the game. MicroStrategy is still stubbornly buying, and I feel sorry for those shareholders who are being diluted.

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