Strategy has resumed its bitcoin purchases. The world’s largest public holder of BTC has acquired 1,229 additional bitcoins for approximately $109 million, at an average price of $88,568 per unit. This move comes as the market shows signs of weakness, with bitcoin slipping back towards $87,000.
This new purchase brings Strategy’s total reserves to 672,497 BTC. Currently, the company controls an unparalleled amount of bitcoin among publicly traded companies, further solidifying its unique positioning in the financial markets.
Strategy reprises BTC accumulation after stockpiling cash
The purchase was made last week and fully financed by the sale of $108.8 million in Class A common stock shares. Just days earlier, Strategy had bolstered its cash reserves to $2.2 billion. The timing is significant, confirming that the company continues to use market consolidation or pullbacks to accumulate.
In total, Strategy has spent approximately $50.44 billion to build its bitcoin holdings, with an average purchase price now set at $74,997 per BTC. Despite recent volatility, this average remains below current market levels, providing the company with a relative safety margin on paper.
A more fragile market in the short term
This announcement comes in a less bullish context for bitcoin. After several attempts to rebound above $90,000, the price has retreated to $87,000, leading to a general cooling of sentiment. Shortly before the US markets opened, MSTR shares had dropped by around 1%, to around $157, reflecting both the decline in bitcoin and the dilution from the issuance of new shares.
This pattern is now familiar to investors. Each new purchase is accompanied by funding through the equity market, which mechanically weighs on the stock in the short term, even if the strategy remains coherent in the long term for bitcoin proponents.
A bold, increasingly concentrated bet
With over 670,000 BTC on its balance sheet, Strategy reinforces a radical thesis: that of a company transformed into a near-pure bitcoin exposure vehicle. At this point, the company’s valuation is closely correlated with BTC fluctuations, more so than its historical operational activities.
This choice continues to divide opinions. For some investors, Strategy embodies the most aggressive institutional version of bitcoin maximalism. For others, the concentration risk becomes extreme, especially in an environment where liquidity is contracting and correlation with tech stock markets remains high.
One thing is certain: despite volatility, macroeconomic uncertainties, and pressure on markets, Saylor shows no signs of slowing down. Every bitcoin dip appears to be seen not as a warning signal but as an additional accumulation opportunity.
