has added 220 BTC to its corporate treasury for $27.2 million, boosting its total BitcoinBTC-- holdings to 640,250 BTC-valued at approximately $47.38 billion at an average cost of $74,000 per coin. The purchase, made between October 6–12, underscores the company's aggressive accumulation strategyMSTR-- amid Bitcoin's recent rally to record highs. The move also highlights the firm's reliance on equity financing through its At-The-Market (ATM) programs to fund its crypto purchases[1].
The latest acquisition was financed by proceeds from three perpetual preferred stock offerings: the STRF, STRK, and STRD ATM programs. Collectively, these initiatives raised $27.3 million in notional value during the reporting period, with the STRF program alone generating $19.8 million from 170,663 shares sold[1]. Strategy's CEO, Michael Saylor, has repeatedly emphasized the company's commitment to treating Bitcoin as a core reserve asset, a strategy mirrored by other publicly traded firms like MicroStrategy and Marathon Digital Holdings[4].
Despite Strategy's bullish stance, Bitcoin's price has swung wildly recently. On October 10, the cryptocurrency plummeted below $108,000 following President Trump's announcement of 100% tariffs on Chinese goods, triggering over $19 billion in liquidations across crypto markets[6]. The selloff, described as one of the largest in history, saw altcoins like EthereumETH-- and SolanaSOL-- drop 20–40%, with some tokens collapsing to near-zero values. However, the asset rebounded sharply in the following days, trading above $114,000 as of October 13, 2025[4].
Analysts attribute Bitcoin's resilience to the growing "debasement trade," where investors hedge against fiat currency devaluation by allocating to scarce assets. JPMorgan recently estimated Bitcoin could reach $165,000 by year-end on a volatility-adjusted basis relative to gold, citing rising inflows into Bitcoin ETFs and institutional adoption. The firm noted that Bitcoin's fixed supply of 21 million coins positions it as a modern counterpart to gold in portfolios seeking protection against monetary policy risks.
Strategy's latest purchase reinforces its position as the largest corporate Bitcoin holder, surpassing peers like Marathon (52,850 BTC) and Bitcoin Standard Treasury Company (30,823 BTC)[4]. The company's expansive financial runway-$1.7 billion to $20.3 billion across its preferred and common stock classes-suggests further accumulation is likely as market conditions evolve[1]. Saylor, who has historically signaled purchases via social media, hinted at another potential buy following the October 10 crash with the hashtag "Don't Stop ₿elievin'"[2].
The broader corporate sector is also embracing Bitcoin as a treasury asset. Over 188 public companies have adopted some form of Bitcoin acquisition strategy, with entities like Trump Media & Technology Group and Bullish adding smaller but significant reserves[2]. This trend reflects institutional confidence in Bitcoin's long-term value, particularly as regulatory clarity improves and macroeconomic uncertainties persist[1].
While Bitcoin's institutional adoption and strategic corporate buying provide a floor for prices, risks remain. The recent crash highlighted the crypto market's susceptibility to geopolitical shocks and leveraged trading dynamics. Analysts caution that renewed U.S.-China tensions or aggressive Fed policies could reignite volatility[7]. However, proponents argue that Bitcoin's role as a hedge against currency debasement will continue to attract capital, particularly as ETF inflows and corporate buying persist.
For Strategy, the path forward appears clear. With over $47 billion already invested in Bitcoin and a robust equity issuance framework, the company is well-positioned to further cement its role as a corporate treasury innovator-provided the market's appetite for digital assets remains intact[1].
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