Strategy Buys 1,036 BTC, Holdings Top 850K

Strategy bought 1,036 BTC for $81.9 million between Nov. 2 and Nov. 8, at an average price of $79,012 per bitcoin. The purchase lifted the treasury company’s holdings to 850,364 BTC, or more than 4% of Bitcoin’s total supply cap. Strategy has acquired its Bitcoin for approximately $64.2 billion, at an average cost of $75,456 per coin including fees and expenses.

Why it matters

Strategy financed the latest acquisition through at-the-market sales of its Class A common stock. Last week, the company sold 2,051,348 MSTR shares for approximately $283.8 million, leaving about $18.34 billion available for future issuance and sales under its ATM program. This creates a direct link between access to equity capital and Strategy’s capacity to buy Bitcoin.

The company remains the dominant listed Bitcoin treasury vehicle by a wide margin. Nearly 200 public companies have adopted the model, but the next-largest holders are far smaller: Metaplanet at 44,000 BTC, Tether-backed Twenty One at 43,514 BTC, Strive at 43,124 BTC and MARA at 35,577 BTC. Strategy’s scale gives it an outsized influence over how investors view corporate demand for Bitcoin.

Strategy also used its USD Reserve to repurchase 1,887,464 STRC preferred shares for roughly $188.3 million and spent another $2.1 million on preferred-stock dividends. As of Nov. 8, its USD Reserve totaled $4.77 billion, while USD Cash balances stood at $146.2 million.

Market impact

The acquisition extends Strategy’s role as the market’s largest recurring corporate Bitcoin buyer. Its use of MSTR proceeds to fund purchases keeps equity issuance at the center of the treasury strategy, while the large remaining ATM authorization provides substantial capacity for future acquisitions.

The near-term market response was mixed. MSTR fell 2.1% last week to close at $128.93, while Bitcoin slipped 3.2% over the same period. Strategy co-founder and Executive Chairman Michael Saylor had posted an acquisition tracker chart and the phrase “Connecting the dots” before the filing, reinforcing the company’s habit of signaling purchases shortly before disclosing them.