Strategy Inc. has expanded its already vast Bitcoin treasury with the purchase of an additional 2,932 BTC, spending approximately $264 million in its latest acquisition. The move reinforces the company’s position as the largest corporate holder of Bitcoin and pushes its total holdings to 712,647 coins, representing roughly 3.4% of Bitcoin’s fixed 21 million supply.
The purchases were made between January 20 and January 25 and were largely financed through the sale of about 1.57 million shares under Strategy’s ongoing stock offering programme. According to the company, the newly acquired Bitcoin was bought at an average price of $90,061 per coin, a figure notably higher than its long-term average acquisition cost of $76,037. At current market prices, Strategy’s Bitcoin treasury is valued at close to $63 billion, while the total cost of acquiring its holdings stands at approximately $54.2 billion.
Since first adopting Bitcoin as its primary treasury reserve asset in August 2020, Strategy has steadily transformed itself from a business intelligence software firm into a de facto Bitcoin investment vehicle. By repeatedly tapping equity markets and issuing convertible debt, the company has provided institutional investors with indirect exposure to Bitcoin through its balance sheet, bypassing the need for direct custody or exchange-traded products.
The latest purchase forms part of an aggressive accumulation streak that has seen Strategy acquire more than 40,000 BTC in just three weeks. Earlier this month, the firm bought 1,283 Bitcoin in the opening week of January, followed by a significantly larger purchase of 13,627 BTC for $1.25 billion in the second week. This was quickly followed by another major acquisition of 22,305 BTC for $2.13 billion, before the most recent addition of 2,932 coins. The buying spree has continued despite Bitcoin trading near the psychologically significant $90,000 level, underscoring the company’s disregard for short-term price fluctuations.
Chief executive Michael Saylor has repeatedly described this approach as “Unstoppable Orange,” framing Bitcoin not as a speculative asset but as a form of long-term monetary reserve capital. His public commentary and charts consistently emphasise continuous accumulation rather than market timing, even as purchase prices rise. The company’s holdings are widely regarded as long-term and illiquid, effectively removing a sizeable portion of Bitcoin’s supply from active circulation.
As Strategy edges closer to controlling 3.5% of all Bitcoin that will ever exist, its influence on market liquidity and supply dynamics continues to grow. At the time of writing, Bitcoin was trading around $87,600, with a total market capitalisation of roughly $1.8 trillion. With billions of dollars still available under its existing stock offering programmes, market participants are closely watching whether Strategy can sustain its pace of accumulation and what that could mean for Bitcoin’s long-term supply balance.
