Michael Saylor doubles down as company strengthens its position as the world’s largest corporate Bitcoin holder
Strategy Increases Bitcoin Holdings Amid Market Strength
Bitcoin giant Strategy — formerly known as MicroStrategy — has further expanded its already massive Bitcoin treasury, purchasing 390 BTC worth approximately $43.4 million between October 20 and October 26, 2025, at an average price of $111,117 per Bitcoin. The acquisition was disclosed in an SEC filing released Monday.
The new purchase lifts Strategy’s total Bitcoin holdings to 640,808 BTC, now valued at around $74 billion, purchased at an average cost of $74,032 per coin. This makes Strategy’s balance sheet one of the most Bitcoin-heavy in corporate history, representing over 3% of Bitcoin’s total 21 million supply.
Financing the Purchase: Preferred Stock Programs Drive Expansion
The latest Bitcoin acquisition was financed through the issuance and sale of the company’s perpetual preferred stock series, including STRK, STRF, and STRD. These equity instruments form part of Strategy’s expanded “42/42” plan, a capital-raising initiative aimed at securing $84 billion in total equity and convertible note funding for Bitcoin accumulation through 2027.
“Our capital structure is designed to endure extreme volatility, even a 90% Bitcoin drawdown lasting several years,” Strategy co-founder and executive chairman Michael Saylor previously said, emphasizing the company’s long-term commitment to the asset.
The company’s preferred stock lineup offers varying risk profiles — from convertible equity exposure via STRK to high-yield, non-convertible options like STRD and STRF. These instruments have become key funding tools for the firm’s aggressive Bitcoin accumulation strategy.
According to Bitcoin Treasuries data, Strategy leads a growing group of 190 public companies adopting Bitcoin as a strategic reserve asset. Other top holders include Marathon Digital Holdings (53,250 BTC), Tether-backed Twenty One (43,514 BTC), and Metaplanet (30,823 BTC).
Despite market leadership, Strategy’s shares remain down 37% from summer highs, reflecting broader market adjustments in crypto-linked equities. The firm’s market-cap-to-net-asset-value (mNAV) ratio currently sits around 1.1, suggesting the stock trades near its underlying Bitcoin value.
With Bitcoin’s 2025 rally driving renewed institutional interest, Strategy’s latest acquisition underscores its unshaken conviction — and cements its role as the leading corporate force behind Bitcoin adoption worldwide.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.