Strategy doubles down on Bitcoin, pushing its holdings past 709,000 BTC.

Bitcoin treasury firm Strategy has deepened its long-running accumulation campaign, snapping up more than 22,000 BTC in a single week as it continues to reshape its balance sheet around the world’s largest cryptocurrency.

According to a recent filing with the U.S. Securities and Exchange Commission, the company purchased 22,305 bitcoin between Jan. 12 and Jan. 19 for roughly $2.13 billion, paying an average price of $95,284 per coin. The move ranks as Strategy’s largest weekly acquisition since late 2024 and underscores its aggressive pace of buying during periods of market volatility.

With the latest addition, Strategy’s total bitcoin reserves now stand at 709,715 BTC, valued at about $64.5 billion at current prices. The company’s average purchase price across all holdings sits near $75,979 per bitcoin, translating into roughly $10.6 billion in unrealized gains. The stash represents more than 3.3% of Bitcoin’s fixed 21 million supply.

The purchases were funded through a mix of at-the-market sales, including common shares and multiple classes of perpetual preferred stock. Over the past week alone, Strategy raised billions by issuing shares under these programs, while keeping tens of billions of dollars in remaining issuance capacity for future bitcoin buys.

These funding tools operate alongside the firm’s expanded “42/42” capital plan, which targets up to $84 billion in equity and convertible financing through 2027—double the size of its original program. Each preferred stock class carries different risk and yield characteristics, allowing the company to tap diverse pools of capital while continuing to accumulate bitcoin.

Strategy remains the largest corporate bitcoin holder by a wide margin, even as dozens of other public companies adopt similar treasury strategies. Still, market sentiment toward the sector has cooled, with many bitcoin-focused equities trading below the value of their underlying holdings. Strategy itself currently trades at a discount to its net asset value, reflecting investor concerns over dilution and prolonged volatility.

Despite those pressures, the company’s leadership maintains that its capital structure is built to survive extreme downturns, even in scenarios involving multi-year declines in bitcoin prices. For now, Strategy’s latest buying spree signals that conviction remains firmly intact.