Strategy Inc. has made headlines with its recent acquisition of 1,955 Bitcoin for approximately $217.4 million, as revealed in a September 8 SEC filing. This latest purchase, conducted between September 2 and September 7 at an average price of $111,196 per Bitcoin, reinforces the company’s position as the largest corporate holder of the cryptocurrency.
With this acquisition, Strategy Inc. now boasts total holdings of 638,460 BTC, valued at about $47.17 billion, with an average purchase cost of $73,880. The firm reported an impressive 25.8% Bitcoin yield year-to-date for 2025, highlighting the effectiveness of its investment strategy.
According to data from industry tracker BitcoinTreasuries.net, Strategy Inc. significantly outpaces its nearest competitor, MARA Holdings, which holds 52,477 BTC. Other notable holders include XXI (43,514 BTC), Bitcoin Standard Treasury Company (30,021 BTC), Bullish (24,000 BTC), and Japan’s Metaplanet with 20,136 BTC.
Michael Saylor, the executive chairman of Strategy Inc., linked the acquisition to a broader financial market transformation, asserting that “Bitcoin represents a digital transformation of capital markets.” He further noted the significant inflow of capital into the cryptocurrency, stating, “Our companies raised $19 billion this year. All of it went into Bitcoin.”
The funding for this latest Bitcoin purchase was sourced from proceeds generated by the company’s at-the-market equity programs, which involve both common and preferred stock issuances. The filing indicates the sale of more than 591,000 shares of common stock in the reporting period, resulting in net proceeds of $200.5 million.
In the larger context of cryptocurrency investments, while Strategy Inc. is solidifying its lead in Bitcoin holdings, Ethereum treasuries are also experiencing substantial growth. BitMine Immersion Technologies recently announced that its Ethereum holdings have surpassed 2.069 million ETH, valued at approximately $8.93 billion, alongside 192 BTC and $266 million in cash. With a total combined cryptocurrency and cash holding of $9.21 billion, BitMine is now recognized as the world’s largest Ethereum treasury, trailing only behind Strategy Inc.’s overall crypto treasury.
Backed by notable institutional investors including ARK Invest’s Cathie Wood and others, BitMine aims for an ambitious goal of acquiring 5% of the total ETH supply. Thomas Lee, the firm’s chairman, described the company’s outlook as being influenced by macroeconomic shifts, asserting that “The convergence of both Wall Street moving onto the blockchain and AI/agentic-AI creating a token economy is creating a supercycle for Ethereum.”
