Strategy Buys $264M in Bitcoin, Holdings Hit 712,647 BTC

Strategy, a Bitcoin treasury business, purchased an extra 2,932BTC, or 0.24%. over around $264.1 million between January 20 and January 25 at an average price of $90,061 per bitcoin, according to a Monday 8-K filing with the Securities and Exchange Commission.

According to Michael Saylor, the company's co-founder and executive chairman, Strategy currently owns 712,647 BTC, or over $62.5 billion, which was acquired at an average price of $76,037 per bitcoin for a total cost of about $54.2 billion, including fees and expenditures.

To put that in context, the haul suggests about $8.3 billion in paper gains at current prices and represents about 3.4% of Bitcoin's total 21 million supply.

The money from the at-market sales of its Class A common stock (MSTR) and perpetual stretch preferred stock (STRC) was used to make the most recent purchases. Strategy sold 1,569,770 MSTR shares for almost $257 million last week. According to the company, there are still $8.17 billion worth of MSTR shares available for issue and sale under that program as of January 25. Additionally, Strategy sold 70,201 STRC shares for almost $7 million, leaving $3.62 billion worth of STRC shares.

Strategy Buys $264M in Bitcoin

Strategy's “42/42” plan, which aims to raise a total of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027, is in addition to the $21 billion, $4.2 billion, $2.1 billion, and $4.2 billion ATM programs for its STRK, STRC, STRF, and STRD perpetual preferred stock.

With a 10% non-cumulative yield and the best risk-reward ratio, STRD is non-convertible. With an 8% non-cumulative dividend that is convertible, STRK offers equity upside. The most conservative choice is STRF, which has a 10% cumulative dividend and is non-convertible. With fluctuating rates intended to keep it close to par, STRC is a variable-rate cumulative preferred stock that pays out dividends on a monthly basis.

In an update on Strategy's bitcoin acquisition tracker on Sunday, Saylor hinted at the company's most recent purchases ahead of time, saying, “Unstoppable Orange.”

According to the company's purchase tracker page, Strategy announced last Monday that it had acquired an additional 22,305 BTC for about $2.1 billion at an average price of $91,519 per bitcoin. This brings its total holdings to 709,715 BTC and represents its biggest weekly acquisitions since a 55,500 BTC haul in November 2024.

194 publicly traded firms have implemented a bitcoin acquisition model, according to statistics from Bitcoin Treasuries. With 53,250 BTC, 43,514 BTC, 35,102 BTC, 30,021 BTC, 24,300 BTC, 18,005 BTC, 14,548 BTC, 13,696 BTC, and 13,099 BTC, respectively, MARA, Tether-backed Twenty One, Metaplanet, Adam Back, and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company.

However, due to a substantial decline in their market cap-to-net asset value ratios, several of the cohort's shares have seen a large decline in value from their summertime 2025 peaks; Strategy, for instance, has had a 64% decline. As of right now, Strategy's mNAV is approximately 0.83, which indicates that the company's value is lower than the value of the Bitcoin it owns.

Although he has admitted that shareholders would still “suffer” in such a scenario, Saylor stated last year that Strategy's capital structure is built to withstand a 90% decline in bitcoin that lasts for four to five years due to its combination of equity, convertible debt, and preferred instruments.

According to The Block's Strategy price page, Strategy's stock dropped 5.1% last week to close Friday at $163.11, while bitcoin suffered a 4.4% decrease during that time. In pre-market trade on Monday, MSTR is currently down 2.1%.