Bitcoin News Today: Strategy Adds 1,229 Bitcoin in $108.8M Stock-Linked Buy Amid Dollar Reserve Buildup

Strategy (MSTR) resumed its aggressive accumulation of bitcoin in the week ending December 28, 2025, adding 1,229 BTC for a total of $108.8 million. The purchase pushed the company's total holdings to 672,497 BTC, valued at $50.44 billion. The acquisition was funded through the sale of $108.8 million in Class A common stock under its at-the-market offering program.

The average purchase price for the latest batch of bitcoin was $88,568, slightly above the $87,000 mark where the cryptocurrency traded at the time of the announcement. The move comes after the company bolstered its U.S. dollar reserves to $2.2 billion the prior week, providing additional liquidity for continued purchases. This marks another step in Strategy's long-term strategy to increase its exposure to digital assets.

MSTR shares fell 1% in premarket trading, mirroring the downward pressure on bitcoin during the same period. The stock has been volatile in recent weeks as the company balances its aggressive bitcoin purchases with financing needs and shareholder concerns over dilution. Despite the near-term sell-off, Strategy remains the largest publicly traded holder of bitcoin, with its holdings accounting for a significant portion of its balance sheet.

How Markets Reacted

The announcement came as investors remained cautious, with both bitcoin and MSTR shares trending lower in the days leading up to the filing. Bitcoin dipped near $87,000, a level that had previously acted as a support zone. Analysts noted that the market appears to be testing the resilience of Strategy's bullish stance in light of broader macroeconomic uncertainty.

Meanwhile, the sale of MSTR shares to fund the latest bitcoin purchase raised questions among some investors about the implications for equity dilution. The company sold 663,450 shares of its Class A common stock during the period, generating the necessary capital for the BTC acquisition. The move highlights the balancing act Strategy must perform between building a reserve of bitcoin and managing shareholder value.

Insider activity also drew attention. Director Jane A. Dietze and Jarrod M. Patten both increased their holdings in MSTR, with each making significant purchases of company stock. These transactions came amid a broader trend of insider buying and selling, with insiders now owning 8.46% of the company's stock.

Risks to the Outlook

While Strategy's accumulation of bitcoin has long been a core part of its business model, recent developments have introduced new risks. A shift toward building dollar reserves rather than immediately deploying capital into BTC purchases has led some analysts to question the company's near-term momentum. This strategic pause has been interpreted by some market observers as a sign of prudence, while others see it as a potential threat to the company's pure-play bitcoin narrative.

The company also faces ongoing scrutiny around its preferred stock offerings. During the same period, it sold $18 million in 10% Series A Perpetual Strife Preferred Stock and $82.2 million in 10% Series A Perpetual Stride Preferred Stock. These offerings provide additional liquidity but come with fixed dividend obligations, which may weigh on future flexibility.

As of December 28, 2025, the company reported remaining availability for future offerings of $11,698.9 million in Class A common stock and over $20 billion in various preferred shares. This gives Strategy significant capacity to raise additional capital if needed, though it also exposes the company to potential dilution risks.

What This Means for Investors

The latest acquisition reinforces Strategy's commitment to bitcoin as a core asset. With an average cost basis of $74,997 per BTC, the company's portfolio is still significantly undervalued relative to current market prices. If bitcoin continues to rise, the gap between the company's cost basis and market value could widen, potentially increasing the value of MSTR as a leveraged play on BTC's performance.

However, investors are advised to closely monitor the relationship between MSTR's stock price and the value of its bitcoin holdings. Recent volatility has highlighted the sensitivity of the stock to both macroeconomic conditions and internal financing decisions. Analysts are now watching whether the company can sustain its current strategy while also managing shareholder expectations.

In the broader market, Strategy's moves continue to influence perceptions of bitcoin as an investment asset. As a publicly traded company with a transparent balance sheet, its purchases act as a real-time gauge of market sentiment. The company's latest move suggests continued confidence in the long-term value of bitcoin, even as short-term risks persist.