Strategy Expands Bitcoin Holdings Despite Slowing Pace of Acquisitions
Strategy acquires 196 Bitcoin for $22M, boosting its treasury to 640,031 BTC and reinforcing its dominance in corporate holdings.
Michael Saylor’s Strategy Inc. has added another 196 Bitcoin to its already massive treasury, reinforcing its status as the world’s largest corporate holder of the cryptocurrency. According to a filing with the U.S. Securities and Exchange Commission released Monday, the purchase was valued at $22.1 million, with the coins acquired at an average price of $113,048 each.
The addition brings Strategy’s total Bitcoin holdings to 640,031 BTC, currently worth about $71.8 billion. Since beginning its accumulation campaign, the company has spent roughly $47.4 billion, averaging $73,983 per coin. The result is an estimated $24.4 billion in unrealized gains—an extraordinary return that highlights both the risks and rewards of Saylor’s high-conviction strategy.
With its treasury now accounting for more than 3% of Bitcoin’s total 21 million supply, Strategy continues to tower over rivals in the corporate Bitcoin space. The purchase, however, marks one of the company’s smallest weekly acquisitions, reflecting a slowdown in buying activity that has become more evident in recent months.
To finance its accumulation, Strategy has increasingly relied on a complex suite of perpetual preferred stock programs, including STRK, STRC, STRF, and STRD, in addition to at-the-market sales of its Class A common stock (MSTR). Collectively, these vehicles support the firm’s “42/42” plan, a target to raise $84 billion in capital through 2027, earmarked for further Bitcoin purchases.
Saylor remains unfazed by near-term price fluctuations. He recently projected that Bitcoin could rebound toward the end of 2025 after enduring months of macroeconomic headwinds. The token began last week above $112,000 before slipping below $110,000, but Saylor has framed such corrections as part of Bitcoin’s long-term growth trajectory.
Strategy’s stock has not been immune to the volatility. MSTR fell to $300.7 on Wednesday—its lowest since mid-April—prompting CryptoQuant analyst Maartunn to describe the drop as a “painful move” for shareholders. Still, long-term supporters point to the firm’s resilience. As one bullish investor noted, despite a 30% drawdown this cycle and a steep 56% plunge in April, MSTR remains up 2,300% in the ongoing bull market.
The dominance of Strategy underscores the growing role of public companies in Bitcoin accumulation. According to Bitcoin Treasuries data, 180 listed firms now hold BTC, with names such as Marathon Digital, Tether-backed Twenty One, Bitcoin Standard Treasury Company, Metaplanet, Riot Platforms, Bullish, Trump Media & Technology Group, CleanSpark, and Coinbase rounding out the top ten.
For Saylor and Strategy, the latest $22 million purchase may be modest in scale, but it signals an unwavering commitment to Bitcoin as the cornerstone of corporate treasury management.
