Catenaa, Tuesday, August 20, 2025 – Strategy, the world’s largest publicly traded bitcoin treasury firm, purchased 430 BTC for $51.4 million, raising its total holdings to roughly 629,376 coins. The latest acquisition was funded through the company’s Series A Perpetual Strike (STRK), Strife (STRF), and Stride (STRD) at-the-market preferred stock programs, according to an SEC filing.
The average price for the newest bitcoin tranche was $119,666 per coin, continuing Strategy’s capital-markets-driven accumulation campaign that began in 2020. With a total investment of about $46 billion, the firm now holds bitcoin valued near $72.4 billion at current prices, reflecting roughly $26.2 billion in unrealized gains.
Strategy’s balance sheet remains robust following record quarterly earnings of $10 billion, largely driven by mark-to-market gains on its bitcoin reserves. The firm’s preferred-stock funding strategy allows it to leverage market premiums, issuing equity and convertibles when its market value exceeds the implied bitcoin per share.
CEO and co-founder Michael Saylor indicated that the firm remains committed to its 42/42 plan, aiming to raise $84 billion in equity and convertible notes for bitcoin acquisitions through 2027, double the original target after equity capacity was exhausted. Analysts highlight Strategy’s approach as highly accretive, giving the company continued ability to expand its BTC holdings efficiently.
This move places Strategy even closer to controlling 3% of bitcoin’s 21 million supply, reinforcing its dominant position in the corporate bitcoin accumulation trend.
