Strategy, the Bitcoin treasury company led by Michael Saylor, has purchased an additional 1,665 Bitcoin for roughly $143 million at an average price of $85,681 per coin.
The acquisition, disclosed in September, lifted the firm’s total holdings to 847,666 BTC, acquired at an overall average cost of about $75,437 per bitcoin for a cumulative outlay near $63.95 billion.
The latest acquisition cost $142.7 million, or roughly $85,681 per bitcoin including fees and expenses. The purchases were funded entirely with net proceeds from sales of Strategy’s Class A common stock (MSTR) through its at-the-market (ATM) equity program.
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In the same update, Strategy also repurchased $152 million of its STRC preferred shares. As of September 27, the company reported $6.02 billion in USD assets alongside its bitcoin position.
Executive Chairman Michael Saylor announced the moves directly, continuing the firm’s pattern of regular disclosures that have become closely watched in crypto markets.
This latest purchase marks the second consecutive week of bitcoin accumulation after a period of reduced activity earlier in the summer. The prior week’s buy of 950 BTC had brought holdings to 846,000.
Strategy, formerly known as MicroStrategy, began its Bitcoin journey in August 2020, when the business-intelligence company made a decision that would fundamentally reshape its corporate strategy.
In July 2020, MicroStrategy announced a new capital-allocation strategy that allowed it to invest up to $250 million of excess capital in alternative assets, including Bitcoin. The company was looking for ways to deploy cash that it believed could preserve and potentially increase shareholder value over the long term.
On August 11, 2020, MicroStrategy announced its first Bitcoin purchase: 21,454 BTC for approximately $250 million, including fees and expenses. The company described Bitcoin as a potential store of value and made it the principal asset in its emerging treasury-reserve strategy.
The initial purchase was not a one-off investment. In September 2020, MicroStrategy adopted a formal Treasury Reserve Policy, under which Bitcoin would serve as its primary treasury reserve asset, alongside cash and short-term investments needed for operations.
The company continued buying. By the end of the third quarter of 2020, it had accumulated approximately 38,250 BTC for $425 million, at an average purchase price of about $11,111 per Bitcoin. By December 2020, its holdings had risen to approximately 70,470 BTC, acquired for about $1.125 billion.
In 2021, the Bitcoin strategy became even more central to the company. MicroStrategy formally described its corporate strategy as having two components: growing its enterprise analytics business and acquiring and holding Bitcoin. It also began using debt and equity financing alongside excess cash to fund additional Bitcoin purchases.
That strategy eventually became so central to the company that, in February 2025, MicroStrategy rebranded itself as Strategy, adopting a new identity built around its Bitcoin treasury strategy.
Strategy remains the largest publicly known corporate holder of bitcoin, with its stack representing more than 4% of the cryptocurrency’s fixed 21 million supply.
The company’s approach centers on treating bitcoin as a primary treasury reserve asset. Purchases have historically been funded through a mix of equity offerings, preferred stock activity, and cash reserves, while the firm has occasionally adjusted its position through limited sales under approved capital frameworks.
The dual actions of adding to the Bitcoin treasury while tightening preferred stock outstanding illustrate the firm’s ongoing efforts to balance accumulation with capital structure optimization.
The current holdings sit in positive territory relative to cost basis given bitcoin’s recent trading levels near the mid-$80,000 range. Market observers view the continued buying as a signal of sustained conviction from Saylor and Strategy management, even as bitcoin prices have fluctuated through 2026.
The firm’s transparent weekly-style updates have helped establish it as a benchmark for corporate bitcoin adoption. Strategy’s stock and the broader crypto market often react to these announcements, reflecting the scale of the company’s position and its influence on sentiment around institutional bitcoin demand.