Strategy scoops the dip, buys $836 million worth of Bitcoin in largest purchase since July

Markets 2025-11-18 10:28
  • Strategy has acquired 8,178 BTC for $836 million, marking its largest purchase since July.

  • The move boosts the firm's holdings to 649,870 BTC.

  • Strategy's purchase comes after the company was accused of selling $4.2 billion worth of Bitcoin last week.

Bitcoin (BTC) treasury company Strategy (MSTR) pounced on the dip with an 8,178 BTC acquisition over the past week, marking its largest purchase since July.

Strategy buys $836 million worth of Bitcoin

Strategy (formerly MicroStrategy) has added 8,178 BTC to its holdings, purchasing the stack for roughly $835.6 million, according to a SEC filing on Monday.

The buying activity, which took place between November 10 and 16, has pushed Strategy's holdings to 649,870 BTC, with an average purchase price of $74,433.

The latest acquisition was largely funded through proceeds from Strategy's new preferred offerings. The firm raised roughly $715 million earlier this month through its STRE, or 'Stream,' series, which extended the company's high-yield instruments to European investors. It secured an additional $131.4 million via its STRC, or 'Stretch,' preferred series, according to the filing.

The latest purchase marks Strategy's largest BTC acquisition since late July, when it acquired over 21,000 BTC. Strategy has made weak buys since then, leaving investors to speculate whether the corporate treasury model has reached a point of exhaustion.

The company's holdings account for more than 3% of Bitcoin's hard supply of 21 million BTC, with an unrealized gain of about $13.3 billion.

On Friday, Strategy faced widespread accusations of selling off a significant portion of its Bitcoin holdings, reportedly worth around $4.2 billion. These rumors were primarily fueled by on-chain data showing large Bitcoin transfers from wallets attributed to Strategy. 

However, CEO Michael Saylor quickly debunked the claims, with analytics platform Arkham Intelligence clarifying that the movements could be internal wallet transfers or custodian changes rather than actual sales to the market.

The move also comes as Strategy's Bitcoin accumulation pace cooled in 2025, falling from 18.3% in Q1 to 13.1% in Q2 and 7.1% in Q3.

The pullback aligns with a broader slowdown in corporate Bitcoin buying activity as recent macroeconomic pressures pushed stocks and crypto prices lower. Analysts cited the resulting declining market-cap-to-net-asset-value (mNAV) ratios in BTC treasuries as a key factor behind reduced accumulation.

Despite its latest BTC acquisition, Strategy's MSTR share price has declined by 2.9% on Monday. Bitcoin has also shed 2.3% of its value over the past 24 hours at the time of publication.

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This content is for informational purposes only and does not constitute investment advice.

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