Michael Saylor’s Strategy continues its aggressive Bitcoin accumulation strategy, announcing the purchase of 1,955 BTC for $217.4 million at an average Bitcoin price of $111,196 per coin. The latest acquisition brings the company’s total Bitcoin holdings to 638,460 BTC, maintaining its position as the largest corporate holder of Bitcoin globally.
The move comes as Bitcoin Price holds steady between $110,500 and $112,200 and follows Strategy’s exclusion from the S&P 500 in favour of Robinhood (HOOD). Despite that and shareholder criticism, Executive Chairman Michael Saylor is pressing ahead with the firm’s Bitcoin-only treasury strategy.
The firm’s average purchase price now stands at $73,880 per Bitcoin, representing a significant paper profit on its holdings given current market prices.
The company’s aggressive accumulation comes amid a broader trend of corporate Bitcoin adoption, with over 200 public companies now holding Bitcoin in their treasuries. Recent entrants include American Bitcoin, which debuted on the Nasdaq last week, and Metaplanet, which increased its holdings to 20,136 BTC through a $15.2 million purchase.
Strategy has faced shareholder scrutiny after revising its modified Net Asset Value (mNAV) policy. The firm had pledged not to issue shares if its mNAV dropped below 2.5X, but the updated guidance could now open the door to greater dilution.
The surge in Bitcoin treasury companies has become a defining trend of 2025, with collective corporate holdings now exceeding 1 million BTC, or roughly 5% of Bitcoin’s circulating supply.
We’re witnessing an unprecedented shift in corporate treasury management. Companies are increasingly viewing Bitcoin as a strategic asset class, leading to a competitive race for accumulation among public companies.
Strategy’s latest purchase was funded through its ongoing at-the-market (ATM) equity offering program, which has proven successful in raising capital for Bitcoin acquisitions. The company’s total investment now represents nearly 3% of Bitcoin’s total supply, making it a significant force in the market.
Despite recent market volatility and shareholder concerns, Strategy’s commitment to its Bitcoin strategy appears unwavering. The company has consistently accumulated Bitcoin through various market conditions, maintaining its position as the leading corporate proponent of Bitcoin adoption.
As corporate Bitcoin adoption continues to accelerate, Strategy’s pioneering approach has established a template for other companies looking to diversify their treasury holdings. With its latest purchase, Strategy reinforces its position at the forefront of this growing movement, despite recent challenges and market fluctuations.
