Strategy, a Bitcoin-focused treasury company led by Michael Saylor, continues its aggressive buying spree in the cryptocurrency markets.
According to an 8-K filing with the U.S. Securities and Exchange Commission (SEC), the company purchased an additional 2,932 Bitcoins between January 20–25 for approximately $264.1 million. This purchase was made at an average price of $90,061 per Bitcoin.
With this latest move, Strategy’s total Bitcoin holdings have reached 712,647 BTC. At current prices, this amount is worth approximately $62.5 billion.
According to Michael Saylor, the company’s co-founder and CEO, the average cost of all purchases to date is $76,037 per Bitcoin, totaling approximately $54.2 billion. This translates to a paper profit of around $8.3 billion under current market conditions. Furthermore, this amount represents approximately 3.4% of Bitcoin’s total supply of 21 million.
The recent purchases were financed with proceeds from the sale of the company’s Class A shares (MSTR) and perpetual preferred shares (STRC). Strategy raised approximately $257 million last week alone by selling 1.56 million MSTR shares. The company’s “42/42” plan, which aims to raise a total of $84 billion in capital for Bitcoin purchases by 2027, is also in effect.
Michael Saylor had hinted at a new Bitcoin move on social media before the purchases with the phrase “No-stop orange.” Strategy also recently made one of its largest weekly purchases since November 2024, acquiring 22,305 BTC.
On the other hand, the number of companies adding Bitcoin to their balance sheets is steadily increasing. According to Bitcoin Treasuries data, 194 publicly traded companies are currently adopting a similar model. However, share performance is not always bright. Strategy shares have fallen by approximately 64% compared to their peaks in the summer, and the company’s market capitalization has dropped below the value of its Bitcoin holdings.
Despite all this, Saylor emphasizes that the company’s capital structure is designed to withstand prolonged and sharp price declines, stating that Strategy will not back down from its Bitcoin-centric roadmap.