Strategy has made another giant Bitcoin buy, and the scale tells you a lot about how the company sees the years ahead. For anyone trying to understand how public companies use Bitcoin, Strategy keeps giving us one of the clearest examples in the market.
Important to Know
- Strategy bought 34,164 BTC for about $2.54 billion in its third-largest Bitcoin purchase ever.
- The company now holds 815,061 BTC bought for $61.56 billion at an average price of $75,527 per Bitcoin.
- Bitcoin traded at $77,470 at the time of writing, up 2.4% over the past 24 hours.
The latest purchase came at an average price of $74,395 per Bitcoin. So even with Bitcoin trading far above past cycle lows, Strategy kept adding in size instead of waiting on the sidelines. That tells us the company still sees long-term value at current levels.
Only two earlier Strategy purchases have been larger, and both were reported in November 2024. One totaled 55,000 BTC, which remains the biggest in company history, while another came in at 51,780 BTC. Against that backdrop, a 34,164 BTC buy still stands out as a massive move.
After the latest deal, Strategy holds 815,061 BTC in total. The company says it acquired that stack for $61.56 billion, which puts its average purchase price at $75,527 per Bitcoin. With Bitcoin trading at $77,470 at the time of writing, the market price sat above that average cost.
A treasury reserve asset is something a company keeps on its balance sheet as part of its financial strategy. Many companies lean on cash or short-term bonds. Strategy chose Bitcoin instead and became the first public company to adopt BTC as its sole treasury reserve asset. It also remains the largest corporate holder of Bitcoin in the world.
Strategy said about 86% of the proceeds for the latest buy came from STRC sales, while the rest came from MSTR common stock sales, which diluted common shareholders. STRC is Strategy Variable Rate Series A Perpetual Preferred Stock, and it currently pays a variable monthly dividend of 11.5%. In plain terms, the company is raising capital through the market and using much of it to buy more Bitcoin.
Michael Saylor also keeps pairing that strategy with an openly bullish view of Bitcoin long term. In a recent interview with Natalie Brunell on Coin Stories, he said:
“I look at 21 years, and I expect about 29% ARR over the next 21 years.” In the same discussion, he also framed the appeal in even simpler terms, describing Bitcoin as an asset that could average about 30% annual growth over the next 20 years. That interview helps explain why Strategy keeps buying so aggressively even after already building the largest corporate Bitcoin position in the market.
Saylor also says Strategy has achieved a BTC Yield of 9.5% year to date. That is one of the company-specific metrics it uses to show how its Bitcoin exposure grows relative to its share base. It is not the same as the move in Bitcoin price, but it is part of how Strategy presents the progress of its treasury model.