Strategy Doubles Down on Bitcoin Plans as SEC Filing Reveals Fresh $116M Buy
Bitcoin treasury heavyweight Strategy has once again expanded its crypto war chest, snapping up 1,286 BTC for roughly $116.3 million in a late-December buying window that stretched into early January. The purchases, disclosed in a fresh filing with the U.S. Securities and Exchange Commission, were executed at an average price of $90,391 per coin.
With the latest addition, Strategy’s total bitcoin holdings have climbed to 673,783 BTC, a stash now valued at about $63 billion at current market prices. According to co-founder and executive chairman Michael Saylor, the company’s aggregate purchase price sits near $75,026 per bitcoin, translating into roughly $12.4 billion in unrealized gains. The holdings account for more than 3% of bitcoin’s hard-capped 21 million supply, underscoring Strategy’s outsized influence among corporate holders.
Funding for the acquisition came from at-the-market sales of Strategy’s Class A common stock. During the same period, the firm sold nearly 2 million MSTR shares, raising approximately $312 million. Even after those sales, Strategy still has over $11 billion in stock issuance capacity remaining, alongside more than $41 billion available across its preferred equity programs.
Beyond bitcoin, Strategy has been quietly reinforcing its balance sheet. The company boosted its USD reserve by $62 million, lifting total cash holdings to $2.25 billion. That reserve is earmarked to service debt obligations and preferred stock dividends, adding a layer of resilience after a pre-Christmas cash injection of $748 million. Analysts have pointed to the growing cash buffer as a safeguard should crypto markets face another extended downturn.
Saylor continues to telegraph Strategy’s moves in advance, teasing recent activity with a cryptic “Orange or Green?” post — a nod to choosing between bitcoin accumulation and cash preservation. The firm had made a similar purchase just a week earlier, signaling that its accumulation strategy remains active despite market volatility.
Meanwhile, Strategy has also taken a public stance on market structure issues, urging index provider MSCI to reconsider a proposal that could exclude companies with heavy crypto exposure from major equity benchmarks. A final decision is expected mid-January, ahead of February’s index rebalancing.
While dozens of public companies have adopted bitcoin-focused treasury models, many — including Strategy — have seen their shares lag behind the asset itself. Strategy’s market value currently trails the worth of its bitcoin holdings, highlighting the growing disconnect between equity performance and on-chain assets.
Even so, Strategy’s message remains consistent: bitcoin accumulation, supported by equity financing and cash reserves, is still the core plan.