Strategy, Michael Saylor’s business intelligence firm, has once again increased its holdings. The company acquired an additional 390 BTC between October 20 and October 26. This purchase brings Strategy’s Bitcoin holdings to a new record. The information was confirmed by Saylor himself via a regulatory filing and his social media on October 27.
The recent acquisition had a total cost of 43.4 million dollars. This places the average price for this specific purchase at $111,053 per Bitcoin. With this addition, the company’s total reserves climb to 640,808 BTC. The aggregate cost of all its historical purchases reaches $47.44 billion. Therefore, the average price for all of Strategy’s Bitcoin holdings is $74,032 per coin, including fees.
Funding for this purchase did not come from traditional debt. Strategy used proceeds from its “At-The-Market” (ATM) equity programs. The firm issued preferred shares (STRF, STRK, and STRD) to raise the $43.4 million. This tactic minimizes risk on the company’s balance sheet. It allows Saylor to continue accumulating capital without risky leverage. It is a key strategy in his vision of the blockchain as a store of value.
What does this purchase mean for Bitcoin’s corporate dominance?
Saylor’s conviction in Bitcoin as “digital property” and “the ultimate treasury reserve asset” remains intact. Strategy is the largest corporate holder of Bitcoin worldwide. Its holdings now exceed 3% of Bitcoin’s entire circulating supply. This position solidifies it as a BTC proxy on Wall Street for institutional investors. Furthermore, recent IRS guidance benefits the company. It will not have to pay billions in taxes on unrealized gains, according to new Treasury guidelines on the CAMT.
This purchase reinforces Saylor’s long-term thesis. The executive believes Bitcoin will outperform traditional assets and outlast inflation. Strategy shows no signs of slowing its accumulation. The company continues to advance its “Bitcoin-as-a-Service” vision. It seeks to offer infrastructure to other institutions exploring digital assets. The market is watching to see if the firm will continue using its ATMs to fund future purchases.
