Strategy, formerly known as MicroStrategy, has expanded its bitcoin treasury with the purchase of 8,178 BTC for approximately $835.6 million between November 10 and 16.
The move, disclosed via an SEC filing, brings the company’s total holdings to 649,870 BTC, valued near $61.7 billion at current prices.
The average purchase price for this latest acquisition was $102,171 per bitcoin.
Funding and capital plan
The acquisitions were financed through at-the-market sales of the company’s perpetual preferred stocks—STRK, STRC, STRF, and STRE—including Strategy’s first euro-denominated preferred stock.
These programs are part of the company’s broader “42/42” plan, targeting $84 billion in capital raised for bitcoin purchases through 2027.
Share price volatility and market reaction
Although Strategy has steadily increased its bitcoin reserves, the value of its shares has declined sharply, with the market cap-to-net asset value ratio dropping and the stock down 56% from summer highs.
Analysts at Bernstein emphasized that the company’s leverage remains conservative, with $8 billion in debt versus $61 billion in bitcoin, and that concerns over forced sales are “far from the truth.”
Saylor addresses rumors
Last week, rumors circulated that Strategy had sold 47,000 BTC. Michael Saylor countered these claims:
“There is no truth to this rumor. We are buying. We’re buying quite a lot, actually, and we’ll report our next buys on Monday morning. I think people will be pleasantly surprised.”
Bernstein analysts noted that Strategy’s capital structure is built to weather significant market corrections, even a 90% bitcoin price drop lasting several years.
The company continues to signal its commitment to accumulating bitcoin as a core treasury strategy.
