TLDR
- Strategy acquired 390 Bitcoin for approximately $43.4 million between October 20 and October 26.
- The company now holds a total of 640,808 Bitcoin worth around $74 billion.
- Strategy paid an average price of $111,117 per Bitcoin during this latest purchase.
- The company’s total Bitcoin investment stands at approximately $47.4 billion including fees and expenses.
- Strategy funded the purchases through sales of STRK, STRF, and STRD perpetual preferred stock.
Strategy acquired 390 Bitcoin (BTC) for $43.4 million between October 20 and October 26. The company now holds 640,808 BTC worth approximately $74 billion. Strategy paid an average price of $111,117 per Bitcoin during this latest purchase.
Strategy Expands Bitcoin Treasury Through Preferred Stock Sales
The world’s largest Bitcoin treasury company completed its latest acquisition using proceeds from preferred stock sales. Strategy sold shares from its STRK, STRF, and STRD perpetual preferred stock programs. The purchases cost approximately $43.4 million and brought Strategy’s total holdings to 640,808 Bitcoin.
Strategy’s total Bitcoin investment now stands at around $47.4 billion, including all fees and expenses. The company has acquired its entire Bitcoin holdings at an average price of $74,032 per coin. This investment strategy has generated approximately $26.6 billion in unrealized gains at current market prices.
The company’s Bitcoin holdings represent more than 3% of the total 21 million Bitcoin supply. Strategy continues to execute its ambitious “42/42” plan for capital raising. This plan targets $84 billion in equity offerings and convertible notes through 2027 for Bitcoin acquisitions.
Preferred Stock Programs Fund Continued Bitcoin Accumulation
Strategy sold 191,404 STRK shares for approximately $17 million during the acquisition period. The company also sold 175,634 STRF shares, generating $19.4 million in proceeds. Additionally, Strategy sold 87,462 STRD shares for $7 million to fund the Bitcoin purchases.
The company maintains substantial capacity across its various at-the-market stock programs. Strategy has $20.35 billion worth of STRK shares remaining available for issuance and sale. The STRF program has $1.67 billion remaining, while the STRD program retains $4.14 billion in capacity.
No shares of Class A common stock or STRC preferred stock were sold last week. Strategy retains $15.91 billion under the MSTR program and $4.2 billion under the STRC program. Each preferred stock offering serves different investor preferences with varying dividend structures and risk profiles.
Bitcoin Treasury Model Gains Traction Among Public Companies
Strategy leads a growing cohort of 190 public companies adopting Bitcoin acquisition strategies. MARA holds 53,250 BTC, ranking second among corporate Bitcoin treasuries. Tether-backed Twenty One holds 43,514 BTC in third place.
Metaplanet controls 30,823 Bitcoin, while Bitcoin Standard Treasury Company holds 30,021 BTC. These five companies dominate the corporate Bitcoin treasury landscape. However, many Bitcoin treasury company stocks have declined significantly from their summer peaks.
Strategy’s stock has fallen 37% from its earlier highs this year. The company’s market cap-to-net asset value ratio currently sits at approximately 1.1. Executive Chairman Michael Saylor previously stated that Strategy’s capital structure can withstand a 90% drop in Bitcoin.
Saylor mentioned that the company’s design allows it to survive such declines, which can last four to five years. The structure combines equity, convertible debt, and preferred instruments for financial resilience. Nevertheless, Saylor acknowledged that shareholders would experience significant losses in such a scenario.
Strategy announced another 168 Bitcoin purchase for approximately $19 million on October 21. That acquisition increased total holdings to 640,418 BTC prior to this week’s additional purchase. Saylor hinted at the latest acquisitions on social media, stating, “It’s orange dot day.”
Strategy’s stock closed at $289.08 on Friday, gaining 1.5% for the day. The stock rose 4.1% in pre-market trading on Monday following the announcement of the acquisition. MSTR gained 3.5% last week but remains down 3.7% year-to-date compared to Bitcoin’s 23.4% gain.
Bitcoin currently trades at approximately $115,379, continuing its strong performance throughout 2025. Strategy maintains its aggressive Bitcoin acquisition strategy despite market volatility. The company remains the dominant corporate holder of Bitcoin globally.
