Saylor’s $963M Bitcoin Push: Strategy Ramps Up BTC Exposure and Builds a 70-Year Dividend Buffer

08. Dec 2025 Posted by Laurent C. on News

Strategy has executed another giant leap into Bitcoin, announcing a fresh purchase of 10,624 BTC worth $962.7 million, according to a Monday disclosure from Michael Saylor on X. The company paid an average of $90,615 per BTC, further extending its position as the world’s largest corporate Bitcoin holder.

With this new acquisition, Strategy’s treasury now sits at 660,624 BTC, accumulated at a total cost of $49.35 billion and an average price of $74,696 per coin, as detailed in its latest SEC Form 8-K filing.

ATM Share Sales Power the Latest BTC Accumulation

The filing reveals how Strategy funded the entire purchase:

  • 442,536 STRD preferred shares sold

  • 5.13 million MSTR common shares sold

  • $963 million raised via its at-the-market (ATM) equity program

This ATM-driven playbook—raising equity capital to buy Bitcoin—has become a defining feature of Strategy’s corporate strategy.

A $1.44B Cash Reserve Aimed at Silencing Dividend Fears

Strategy CEO Phong Le recently addressed growing concerns from investors worried about the company’s ability to maintain dividend payouts during Bitcoin’s volatility.

Le disclosed that Strategy has built a $1.44 billion cash reserve, funded through stock sales, designed to secure:

  • 12 months of dividend coverage immediately

  • A path toward 24 months of coverage over time

The move follows escalating speculation about Strategy’s resilience if Bitcoin were to experience a deeper pullback.

“We’re very much a part of the crypto ecosystem,” Le said. “That’s why we started raising capital—to beat back the FUD and strengthen our balance sheet.”

Selling Bitcoin? Only as a Last Resort

Le reiterated that Strategy will not sell Bitcoin unless two conditions are met simultaneously:

  1. The company’s stock trades below its net asset value.

  2. Strategy loses the ability to raise capital through equity markets.

Otherwise, the Bitcoin accumulation strategy is expected to continue unabated.

New “BTC Credit” Dashboard Claims 70+ Years of Dividend Security

In a final move to reassure shareholders, Strategy introduced its new “BTC Credit” dashboard, claiming the firm now holds enough assets to fund dividends for more than 70 years.

The message is clear: Strategy is betting long-term on Bitcoin—and wants investors to know that its dividend engine is built to last.