Quick Takeaways
- Strategy added 10,645 BTC for about $980 million at an average price near $92,098.
- Total bitcoin holdings now stand at 671,268 BTC, worth roughly $60 billion.
- Purchases were funded through stock sales and multiple preferred share offerings.
Michael Saylor’s bitcoin-focused firm, Strategy, has expanded its treasury again with another massive purchase. The company acquired 10,645 bitcoin for approximately $980.3 million, according to a recent SEC filing.
The buys took place between December 8 and December 14 at an average price of $92,098 per coin. This marks the second consecutive week that Strategy added more than 10,000 BTC to its balance sheet.
With the latest move, Strategy’s total bitcoin holdings reached 671,268 BTC. At current market prices, the stash is valued at close to $60 billion.
The company’s average purchase price now stands at about $74,972 per bitcoin. That translates into nearly $9.7 billion in unrealized gains, despite recent market volatility.
Treasury Scale Now Exceeds 3% of Bitcoin’s Total Supply.
Strategy’s bitcoin position now represents more than 3% of bitcoin’s fixed 21 million supply. That scale places the firm far ahead of every other public company holding BTC.
Michael Saylor, Strategy’s co-founder and executive chairman, continues to frame bitcoin as digital property. He has repeatedly argued that BTC offers superior long-term protection against currency debasement.
The aggressive accumulation strategy has turned Strategy into a proxy bitcoin investment for equity markets. Institutional investors often view MSTR shares as a leveraged play on bitcoin’s price movements.
Last week alone, Strategy purchased 10,624 BTC for roughly $962.7 million. The back-to-back buys rank among the company’s largest acquisition streaks since mid-2024.
Saylor hinted at the move in advance by posting, “Back to more orange dots,” on social media. The phrase refers to Strategy’s bitcoin tracker, which visually maps each purchase.
Stock Sales and Preferred Shares Fund Latest Bitcoin Buys
Strategy funded the latest bitcoin acquisition through several capital-raising channels. These included at-the-market sales of common stock and multiple preferred share offerings.
During the week, the firm sold nearly 4.79 million shares of its Class A common stock, MSTR. Those sales generated approximately $888.2 million in proceeds.
The company also issued perpetual preferred shares under several ticker symbols. These included STRK, STRD, STRF, and STRC, each with different risk and dividend profiles.
STRK offers an 8% non-cumulative dividend with conversion options into equity. STRD carries a 10% non-cumulative dividend and higher risk exposure.
STRF provides a 10% cumulative dividend and is viewed as the most conservative option. STRC features variable-rate monthly dividends designed to keep the price near par.
Together, these programs support Strategy’s expanded “42/42” capital plan. The initiative targets $84 billion in total fundraising through equity and debt by 2027.
Index Scrutiny Grows as Bitcoin Treasury Model Expands
Strategy’s bitcoin-heavy model has drawn increasing attention from index providers. During the week, the firm urged MSCI to reconsider proposed index rule changes.
The proposal would exclude companies holding digital assets above 50% of total assets. Strategy warned that such a rule could create unstable index churn for investors.
In a detailed letter, the firm argued the threshold was arbitrary and disruptive. It said companies could be forced in and out of benchmarks based on bitcoin price swings.
Despite the scrutiny, Strategy retained its place in the Nasdaq 100 after annual rebalancing. However, its stock performance has lagged behind Bitcoin in recent months.
MSTR shares closed last week down 3.7% and remain over 40% lower year to date. Bitcoin, by comparison, has posted smaller losses over the same period.
Still, Saylor shows no sign of slowing accumulation. As more firms explore bitcoin treasury strategies, Strategy remains the sector’s bellwether.
For now, the company continues to stand by its long-held thesis. Bitcoin, in Saylor’s view, remains the ultimate corporate reserve asset.