Strategy, the corporate-software company rebranded from MicroStrategy, said Monday it purchased 520 bitcoin for about $35 million in its most recent reporting period. The buy brings its total holdings to 847,363 BTC, a position valued at roughly $54 billion at current prices near $64,200 per coin. The company has been adding bitcoin every week since early 2025, and this tranche cost an average of $67,068 per coin — a premium to the market, but consistent with its dollar-cost-averaging approach.
The latest buy
This week's purchase is smaller than the prior week's haul of 1,587 BTC for $100 million. The company didn't explain the drop-off, but the cadence of weekly buys has varied before. Executive Chairman Michael Saylor and CEO Phong Le have maintained that bitcoin is the firm's primary treasury asset, a bet the company first made in 2020. Since then, it's raised capital through at-the-market sales of common stock and perpetual preferred shares — most recently the STRC series — to fund the purchases.
A $300 million reserve cushion
Strategy also boosted its USD reserve by $300 million, bringing it to $1.4 billion. That cash buffer supports the credit quality of the company's Digital Credit securities and the payment obligations tied to them. The reserve increase came alongside the bitcoin buy, giving the firm more flexibility to meet debt payments without having to liquidate crypto. For a company that holds more bitcoin than any other publicly traded firm, that liquidity matters.
BTC Yield keeps climbing
Strategy reports a metric it calls BTC Yield — essentially how fast its per-share bitcoin holdings grow. For the current quarter, yield stands at 8.7%; year-to-date, it's 11.8%. Those figures are a function of both the acquisitions and the number of new shares issued to fund them. The yield has been a key talking point for Saylor, who argues that buying bitcoin with cheap equity creates value for shareholders even when the token price fluctuates.
Funding the strategy
The company's aggregate cost basis for its entire bitcoin stash is near $64 billion, meaning the portfolio is roughly flat at current prices. But that average masks the fact that many of the early buys are deep in profit while recent purchases are closer to break-even. Strategy's ability to keep raising money through stock and preferred sales will determine whether the weekly buys continue at the same pace. So far, the market has been willing to fund the habit — the next disclosure will show if that appetite holds.
