Strategy Buys 390 More BTC, Elevating Holdings to 640,808 BTC
Strategy Inc. (formerly known as MicroStrategy) has strengthened its position as the largest corporate holder of BTC with the purchase of an additional 390 BTC, valued at approximately US$43.4 million. The acquisition took place between October 20 and October 26, 2025, at an average price of US$111,053 per BTC, according to recent company disclosures. This latest purchase brings Strategy’s total BTC holdings to 640,808 BTC, representing roughly 3 percent of BTC’s total maximum supply.
The company’s aggregate acquisition cost for all its BTC holdings now stands at around US$47.44 billion, translating to an average purchase price of US$74,032 per BTC. The move highlights Strategy’s continued faith in BTC as a core treasury reserve asset and a hedge against fiat currency debasement.
Corporate funding strategy and capital structure
Unlike previous large-scale acquisitions financed primarily through convertible debt, this latest purchase was funded via the sale of preferred equity under Strategy’s at-the-market program. The company raised approximately US$43.4 million through preferred share issuances to facilitate the BTC purchase. This funding approach enables Strategy to expand its BTC reserves without immediate dilution of common shareholders. However, analysts note that preferred equity introduces ongoing dividend obligations that could influence the firm’s long-term capital efficiency.
Industry experts view this financing decision as another example of Strategy’s evolving corporate strategy—balancing aggressive BTC accumulation with disciplined financial management. By leveraging alternative capital structures, the company maintains flexibility while staying aligned with its BTC-first philosophy.
Institutional and market implications
Strategy’s consistent BTC acquisitions have made it a bellwether for institutional interest in digital assets. The firm’s actions are closely watched by investors, as they often reflect broader corporate sentiment toward cryptocurrency adoption. The latest purchase reinforces confidence in BTC’s long-term value proposition amid ongoing market volatility and regulatory uncertainty.
Despite the addition of 390 BTC, October marked one of Strategy’s sluggisher months for accumulation in 2025, signaling a more calculated and data-driven approach to market entry points. Analysts suggest that the company may be pacing its purchases strategically to optimize acquisition costs while maintaining steady exposure.
For the broader market, Strategy’s sustained accumulation continues to drive institutional narratives around BTC’s legitimacy as a store of value. Each purchase contributes to the perception of BTC as a corporate-grade asset—comparable to gold or U.S. Treasuries in strategic allocation frameworks.
While Strategy’s bold accumulation strategy strengthens its brand as a crypto pioneer, it also amplifies exposure to BTC’s price volatility. A significant downturn could adversely impact its balance sheet, as its market valuation is increasingly tied to BTC’s performance. Nevertheless, CEO Michael Saylor and the company’s leadership have repeatedly emphasized their long-term horizon and commitment to holding BTC regardless of market cycles.
As of late October 2025, BTC continues to trade near historical highs, supported by growing institutional demand and expanding on-chain liquidity. Strategy’s latest purchase underscores its enduring conviction that BTC will remain the most dominant digital asset for decades to come.
With over 640,000 BTC now under its control, Strategy remains at the forefront of corporate BTC adoption—setting a precedent for how publicly traded companies integrate digital assets into treasury strategies. Its ongoing accumulation not only bolsters its balance sheet but also cements its status as a cornerstone of the global BTC ecosystem.
