Strategy, the bitcoin treasury company formerly known as MicroStrategy, has expanded its holdings by acquiring an additional 487 BTC for approximately $49.9 million at an average price of $102,557 per bitcoin between November 3 and November 9.
This latest purchase brings the company’s total bitcoin reserves to 641,692 BTC, now valued at roughly $68 billion based on current market prices.
Funding through preferred stock programs
The acquisitions were financed through at-the-market sales of Strategy’s various perpetual preferred stock offerings, including STRK, STRF, STRD, and STRC.
The company’s ambitious capital-raising initiatives, such as the “42/42” plan, aim to accumulate up to $84 billion for further bitcoin purchases through 2027. Strategy has also announced plans to launch a euro-denominated preferred stock, STRE, with an initial target of $715 million.
Position among top bitcoin holders
Strategy’s holdings now represent over 3% of the total 21 million bitcoin supply.
According to public data, its closest peers include Marathon Digital, Tether-backed Twenty One, Metaplanet, and others, but none approach Strategy’s scale.
Share price performance and risk management
Despite its massive bitcoin accumulation, Strategy’s share price has declined 47% from summer highs, with its market cap-to-net asset value ratio now at approximately 1.02.
In a recent interview, executive chairman Michael Saylor emphasized the company’s robust capital structure:
“Our capital structure is designed to withstand a 90% drop in bitcoin that persists for four to five years, though shareholders would still suffer in such a scenario.”
Ongoing accumulation strategy
Just last week, Strategy disclosed the purchase of an additional 397 BTC for $45.6 million.
Saylor hinted at the ongoing accumulation strategy by posting “₿est Continue” ahead of the most recent announcement.
The company’s aggressive approach continues to make it the dominant public holder in the bitcoin market.
