Strategy acquired 10,645 Bitcoin (BTC) for approximately $980.3 million between December 8 and December 14.
The purchase marks the second consecutive week of roughly $1 billion in Bitcoin acquisitions, bringing total holdings to 671,268 BTC worth approximately $60 billion at current prices.
The company funded the purchase primarily through $888.2 million in Class A common stock sales, with additional proceeds from perpetual preferred stock offerings.
What Happened
Strategy purchased the Bitcoin at an average price of $92,098 per coin during the week-long period, according to Monday's Securities and Exchange Commission filing.
The acquisition follows the previous week's purchase of 10,624 BTC for $962.7 million at an average of $90,615 per Bitcoin.
Total holdings now represent approximately 3.2% of Bitcoin's 21 million supply cap, acquired for an aggregate $50.3 billion at an average cost basis of $74,972 per coin.
The company sold 4.79 million MSTR shares generating $888.2 million in net proceeds alongside sales of STRD, STRK and STRF perpetual preferred stock totaling an additional $101 million.
Strategy retained its position in the Nasdaq 100 index after the annual rebalancing announced December 12, with changes effective December 22.
The company faces potentially larger index inclusion challenges from MSCI, which is consulting on whether to exclude digital asset treasury companies with over 50% of assets in cryptocurrencies.
Strategy submitted a 12-page letter December 10 opposing MSCI's proposal, calling the 50% threshold "discriminatory, arbitrary, and unworkable."
MSCI will announce its final decision by January 15, 2026, with potential implementation at the February index review.
Read also: Japan Rate Hike Could Send Bitcoin to $70K, Analysts Warn
Why It Matters
The aggressive share issuance strategy marks a shift from Strategy's more constrained capital raising earlier in 2025.
MSTR stock closed Friday at $176.45, down 41.2% year-to-date compared to Bitcoin's 3.8% decline over the same period.
The company's market capitalization has fallen below the fair market value of its Bitcoin holdings at various points, inverting the premium that previously powered its financing model.
JPMorgan estimates MSCI exclusion could trigger up to $8.8 billion in passive fund outflows if other index providers follow suit.
Strategy argues it operates as an active business rather than a passive investment vehicle, comparing its model to real estate investment trusts and energy companies with concentrated asset holdings.
Executive Chairman Michael Saylor reported the company achieved 24.9% Bitcoin yield year-to-date in 2025, measuring growth in Bitcoin holdings per diluted share rather than dollar value appreciation.
The metric has become central to Strategy's investor messaging as it positions itself as a Bitcoin-focused treasury and structured finance business.
Bitcoin traded near $90,000 Monday morning after pulling back from recent highs, creating volatility for Strategy shares that move in correlation with cryptocurrency price swings.
The company maintains it has no plans to sell Bitcoin holdings, emphasizing a multi-decade accumulation strategy regardless of short-term market conditions.
Read also: SEC Dropped 60% of Crypto Cases After Trump Returned to Office, NYT Finds
