The company formerly known as MicroStrategy now holds over 640,000 BTC.
Strategy (NASDAQ: MSTR), the world’s largest corporate Bitcoin holder, revealed it purchased 196 Bitcoin (BTC) for $22.1 million last week.
The acquisition, funded through stock and preferred share sales, brought its total holdings to 640,031 BTC at an average cost of $73,983 per coin, according to a U.S. Securities and Exchange Commission (SEC) filing on Monday. The disclosure came as Bitcoin rebounded above $112,000, boosting MSTR shares in early trade.
From pioneer to mainstay: Strategy as Bitcoin’s top corporate holder
The filing shows how the company continues to link its corporate fortunes to the digital asset while navigating both investor scrutiny and market volatility.
- 196 BTC added: Bought between Sept. 22–28 for $22.1M at $113,048 per coin.
- 640,031 BTC total: Now holds over 3% of Bitcoin’s 21M supply in net proceeds.
- Paid with stock sales and preferred shares, raising $128M.
- MSTR rose in pre-market as Bitcoin climbed past $112K.
- Saylor’s note: Michael Saylor hinted on X, writing, “Always ₿e Stacking.”
Strategy’s latest purchase adds to a long line of acquisitions that have defined its balance sheet strategy since 2020. According to filings, the approach has transformed the company into the largest corporate holder of the asset, with a series of high-profile purchases marking its journey:
- August 2020: First major Bitcoin buy, $250 million for 21,454 BTC at roughly $11,653 each.
- December 2020 – February 2021: Additional purchases lifted holdings above 90,000 BTC, using over $1 billion in convertible notes.
- September 2, 2025: Bought 4,048 BTC for about $449.3 million at an average of $111,000.
- September 8, 2025: Acquired 1,955 BTC worth $217.4 million.
- September 22, 2025: Added 850 BTC valued at nearly $99.7 million.
- September 29, 2025: Latest addition of 196 BTC for $22.1 million, which brought total holdings to 640,031 BTC, an aggregate investment of about $47.35 billion at an average cost of $73,983 per coin.
Source: Strategy
Notably, these acquisitions have been consistently financed through equity and debt channels, often via at-the-market stock programs and preferred share issuances.
Since announcing the $22.1 million Bitcoin purchase, Strategy’s stock (MSTR) gained 5.62% on Monday to close at $326.42. By the end of the week Strategy rode the crypto bounce to $351.61 and an impressive 13.77% gain.
Despite the rally, MSTR remains well below their 52-week peak of over $470 set in late 2024. Data also show the stock has logged over 70 trading days with single-day swings above 5% in the past year.
Bitcoin has recovered nicely over the last week and, at the time this article was published, was trading above $122,000.
Bitcoin price Source: TradingView
Against that backdrop, Strategy’s latest purchase appears to be a smart bet, with more upside as the market continues to unfold over the next few months.
