Strategy Reloads on Bitcoin With $1.2B Buy, Expanding Its Digital War Chest

Strategy has returned to the Bitcoin market with force, revealing its largest purchase in more than five months after acquiring roughly 13,600 BTC over the past week. The buying spree, disclosed Monday, cost the firm more than $1.2 billion and comes as Bitcoin trades near the $92,000–$93,000 range.

Following the latest addition, the Virginia-based company now controls approximately 687,400 Bitcoin, a reserve valued at more than $62.8 billion at current market prices. The move reinforces Strategy’s position as the world’s largest corporate holder of the cryptocurrency, even as broader markets remain sensitive to macro and policy uncertainty.

To fund the acquisition, Strategy leaned heavily on equity financing. The firm issued about 6.8 million common shares, raising roughly $1.1 billion, alongside $119 million in STRC preferred stock. The preferred shares, which offer a high yield, have been positioned by the company as an alternative income vehicle for more conservative investors seeking exposure to its Bitcoin-focused strategy.

The scale of the purchase marks Strategy’s most aggressive accumulation since late July, when it bought around 21,000 Bitcoin following a major STRC offering. With the latest deal, the company’s average purchase price now sits near $75,300 per Bitcoin, reflecting total spending of about $51.8 billion on the asset to date.

Strategy’s stock saw early weakness at the open, slipping alongside broader equities amid renewed concerns over U.S. monetary policy and political pressure on the Federal Reserve. Shares later recovered modestly, signaling continued investor confidence in the firm’s Bitcoin-centric model.

Sentiment was also buoyed by a recent decision from MSCI, which opted to maintain index eligibility for companies heavily exposed to digital assets through at least its next review. The move eased fears that Strategy could face forced selling from index-linked funds, even as MSCI signaled it would limit automatic weighting increases tied to future share issuance.

Despite debate over how index treatment may evolve, Strategy struck an optimistic tone, framing the decision as supportive of neutral indexing and market reality. With its net asset value multiple hovering just above parity, the company appears committed to pressing forward—using capital markets to steadily convert balance sheet firepower into Bitcoin.