Strategy bought another 520 Bitcoin this week at an average price of $67,068 per coin. The purchase pushes the company's total Bitcoin treasury to 847,363 BTC — a position that dwarfs every other corporate holder by a wide margin.
Latest buy
The acquisition comes as Bitcoin trades in a range that's still well below its all-time high. Strategy didn't disclose the exact date of the purchase or the funding source, but the company has been steadily adding to its holdings for years. At the current price, the 520 BTC buy is worth roughly $35 million.
Big picture
With nearly 850,000 Bitcoin, Strategy now controls about 4% of the total supply that will ever exist. That makes the firm a massive whale — its buying and selling decisions can move markets. The company first started buying Bitcoin in 2020 as a hedge against inflation and has never sold a single coin.
Risks on the table
The strategy isn't without trade-offs. The company funds purchases largely through equity offerings, which dilutes existing shareholders. If Bitcoin's price drops significantly, the value of the treasury could fall below the cost basis — a scenario that would hit both the balance sheet and the stock price. On the flip side, if Bitcoin rallies, Strategy's paper gains are enormous. The average purchase price across all its holdings is now around $36,000, meaning the entire treasury is in profit.
Strategy has signaled no plans to stop buying. The firm's executive chairman has been vocal about holding for the long term. The next purchase will likely come when the company raises more capital — either through convertible bonds or an equity offering. Until then, the market will watch for the next 8-K filing.
