Billionaire Michael Saylor’s Strategy Inc. made headlines with the announcement of its recent acquisition of 850 BTC, valued at approximately $99.7 million. This latest investment elevates the company’s total bitcoin holdings to 639,835 BTC, reinforcing its position as one of the largest corporate holders of the cryptocurrency globally. The average purchase price for this new tranche was reported at $117,344 per bitcoin, which includes associated fees and expenses.
This acquisition was financed through proceeds from two at-the-market equity programs, specifically the STRF and MSTR issuances, demonstrating the firm’s strategic approach to leveraging its balance sheet in the pursuit of bitcoin. The company’s total bitcoin holdings have now been accumulated at a staggering purchase price of $47.33 billion, resulting in an average acquisition cost of $73,971 per bitcoin.
As of September 21, 2025, Strategy’s bitcoin treasury not only signifies its dominance in the bitcoin market but also underscores the growing trend of institutional adoption of digital assets. The firm’s continued investment reflects a robust long-term belief in bitcoin as both a reserve asset and a crucial hedge against macroeconomic uncertainties.
Further validating its investment strategy, Strategy reported a year-to-date bitcoin yield of 26.0% for 2025. This yield indicates the appreciation of bitcoin in comparison to the company’s overall acquisition costs, supporting its thesis that bitcoin serves as a superior store of value compared to traditional assets. This performance is occurring amid a broader trend of institutional adoption, where companies are increasingly embracing bitcoin as part of their treasury reserve strategies.
The firm’s recent purchases have been significantly aided by its at-the-market equity programs. Between September 15 and September 21, 2025, Strategy successfully sold 173,834 STRF shares for net proceeds of $19.4 million, alongside 227,401 MSTR shares which yielded $80.6 million. This total of $100 million was subsequently reinvested into bitcoin, emphasizing Strategy’s model of converting capital market inflows into digital asset acquisitions. With billions still accessible under various ATM facilities, the company is well-positioned to continue expanding its bitcoin holdings in the near future.
Strategy’s ongoing commitment to bitcoin as a cornerstone of its corporate treasury strategy further highlights the evolving landscape of institutional engagement with digital assets. With nearly 640,000 BTC currently under management and a strong performance year-to-date, the company is poised to play a pivotal role in the future of cryptocurrency adoption in corporate finance.
