Buying the Dips: Strategy’s Bitcoin Push Defies Market Volatility

Strategy, a business intelligence and software firm led by Michael Saylor, has added 850 Bitcoin (BTC) to its corporate treasury, increasing its total holdings to 639,835 BTC. The latest acquisition, executed between September 15 and 21, 2025, cost $99.7 million, averaging $117,344 per coin. This purchase brings the company’s total Bitcoin investment to $47.33 billion, with an average cost basis of $73,971 per BTC. The move underscores Strategy’s ongoing commitment to Bitcoin as a reserve asset, even amid market volatility. As of September 21, 2025, the firm’s BTC treasury is valued at approximately $72 billion, representing a 52% unrealized profit of $28.3 billion.

The acquisition was funded through at-the-market (ATM) equity programs, including the issuance of 173,834 STRF preferred shares and 227,401 MSTR common shares, generating $100 million in proceeds. Strategy’s capital-raising strategy, part of its “42/42” plan, aims to secure $84 billion by 2027 to further expand its Bitcoin holdings. The company’s aggressive financing approach reflects its conviction in Bitcoin’s long-term value, despite recent slower accumulation rates compared to earlier months. In July 2025, Strategy purchased 31,466 BTC, whereas September’s purchases totaled 3,330 BTC.

The timing of the purchase aligns with technical indicators suggesting a potential market rebound. Bitcoin’s price dipped below $113,000, triggering a “TD Sequential” buy signal—a technical tool used to identify trend exhaustion and reversal points. Analysts, including those cited in X posts by Ali Charts, noted that the TD Sequential indicator’s “9” signal historically precedes price recoveriesBitcoin Dips Below $113K, TD Sequential Signals Buy Now^[1]. This technical context coincided with Strategy’s accumulation, reinforcing the firm’s strategy of “buying the dips” during market corrections. The company’s year-to-date BTC yield in 2025 reached 26.0%, further validating its thesis that Bitcoin outperforms traditional assets as a store of value.

Institutional adoption of Bitcoin has accelerated, with Strategy now holding over 3% of the total BTC supply. This positions it as the largest corporate holder globally, surpassing entities like Marathon Digital (MARA) and Bullish. Competitors, such as Japan-based Metaplanet, have also increased their BTC reserves, acquiring 5,419 BTC recently. However, Strategy’s scale and financial engineering—leveraging preferred stock programs and equity sales—have cemented its leadership role in corporate Bitcoin adoption. The firm’s influence extends beyond market dynamics, as Saylor has advocated for government adoption of Bitcoin, including supporting the BITCOIN Act, which proposes U.S. government acquisition of 1 million BTC over five years.

Market analysts have highlighted the strategic implications of Strategy’s purchases. The firm’s continued accumulation during volatility signals confidence in Bitcoin’s resilience, potentially attracting other institutional players. The TD Sequential buy signal, combined with Strategy’s actions, has fueled retail and institutional investor interest, with some interpreting the moves as a precursor to a broader market rally. However, critics caution that the firm’s heavy reliance on equity financing and preferred stock could pose risks if Bitcoin’s price reverses. Despite these concerns, Strategy’s disciplined approach—prioritizing long-term value over short-term fluctuations—has reinforced its reputation as a bellwether for institutional Bitcoin adoption.

The company’s next steps hinge on macroeconomic developments and regulatory shifts. With the Federal Reserve recently cutting rates by 25 basis points, Bitcoin’s role as a safe-haven asset has gained traction. Strategy’s ability to sustain its capital-raising efforts and navigate regulatory scrutiny will determine its capacity to maintain its BTC dominance. As of September 2025, the firm remains a key player in shaping Bitcoin’s institutional narrative, with its treasury strategy influencing broader market sentiment and policy debates.