Strategy Buys 196 BTC Worth ~$22.1M, Eyes Bigger Bitcoin Stack

With the latest purchase, Strategy’s total bitcoin holdings now stand at 640,031 BTC.

While the buy continues Strategy’s accumulation trend, $22.1 million is relatively modest compared to some of its earlier, much larger purchases.

The acquisition was disclosed in a recent SEC filing, reaffirming Strategy’s commitment to “stacking sats” even amid market volatility.

Strategy has long used equity offerings, debt issuance, and preferred stock instruments to fund its bitcoin purchases, raising questions about dilution of existing shareholders.

Some analysts caution that such buying strategies depend heavily on maintaining investor confidence and favorable market conditions—if either falters, the approach could be strained.

Meanwhile, critics point out that smaller recent buys may signal constraints or shifting priorities in Strategy’s capital deployment.