Strategy Pushes Bitcoin Holdings Past 700,000 BTC in Aggressive Purchase

Strategy, the software company led by Michael Saylor, has pushed its Bitcoin holdings past 700,000 BTC following a large-scale purchase disclosed this week. The firm bought 22,305 Bitcoin for roughly $2.13 billion, according to a filing with U.S. regulators, marking its most aggressive accumulation in more than a year. The acquisition was made at an average price of $95,284 per coin. Bitcoin briefly traded above $97,000 during the week of the purchase, reflecting a renewed upswing in the market. After the latest addition, Strategy now holds 709,715 BTC in total. The company’s Bitcoin position was built at a cumulative cost of about $53.92 billion, with an average purchase price of $75,979 per BTC. At current supply levels, Strategy controls roughly 3.37% of Bitcoin’s fixed 21 million maximum supply and about 3.55% of the coins currently in circulation.

Investor Takeaway

Crossing 700,000 BTC reinforces Strategy’s role as the dominant corporate holder of Bitcoin, with a balance sheet now tightly linked to long-term price movements.

Notable Purchase Accelerates Strategy's Bitcoin Accumulation

The latest acquisition stands out for both its size and timing. It is Strategy’s largest Bitcoin purchase since February 2025, when the company bought 20,356 BTC for about $2 billion. For most of 2025, the firm’s buying activity had slowed compared with earlier accumulation phases. Just weeks earlier, on Jan. 12, Strategy disclosed a 13,627 BTC purchase worth around $1.3 billion, which at the time had been its biggest buy since July. Adding more than 22,000 BTC in a single transaction signals a clear acceleration in pace after months of more measured activity. This renewed push coincided with Bitcoin reaching a multi-month high and with a modest rally in Strategy’s own shares. The stock climbed past $185 during the same week Bitcoin traded above $97,000, reinforcing the tight correlation between the company’s equity price and the crypto asset it holds.

Strategy's Buying Aligns with Current Market Cycle Dynamics

Strategy’s aggressive accumulation comes after a period of hesitation around digital asset treasury companies. Following a strong rally in mid-2025, some investors questioned whether the model had become overcrowded, with critics warning that corporate Bitcoin strategies were turning into a speculative trade rather than a disciplined treasury approach. The firm’s latest move suggests confidence that the pullback in sentiment was temporary. By increasing exposure near recent highs, Strategy is signaling that it views Bitcoin’s current range as a foundation rather than a ceiling. That stance contrasts with companies that paused or trimmed exposure after the summer rally faded. The timing also follows a decision by MSCI earlier this year not to exclude digital treasury companies from its market indices. That choice reduced fears that firms with large Bitcoin holdings would be pushed out of benchmark-driven portfolios, a concern that had weighed on sentiment around Strategy and similar companies.

Investor Takeaway

The renewed buying pace suggests Strategy is doubling down on its accumulation thesis at a moment when other digital asset treasuries remain cautious.

Growing Bitcoin Holdings Present Unprecedented Risks and Strengths

With more than 700,000 BTC on its balance sheet, Strategy’s exposure is now without precedent among public companies. That concentration magnifies both upside and downside. Shareholders are effectively holding a leveraged proxy for Bitcoin’s long-term performance, with less insulation from volatility than traditional operating businesses. Market observers have also pointed out that not all digital asset treasuries will endure. In a December update, CoinShares research head James Butterfill said the sector faces a test of which firms can sustain disciplined treasury management and credible business models as conditions normalize. “The future of DATs lies in returning to fundamentals: disciplined treasury management, credible business models, and realistic expectations about the role of digital assets on corporate balance sheets,” Butterfill wrote at the time. For Strategy, scale itself may be both strength and vulnerability. Its size offers liquidity, visibility, and influence, but it also leaves little room to adjust without moving markets or reshaping investor perception.

Strategy's Future Bitcoin Strategy Focused on Continued Accumulation

The latest purchase makes clear that Strategy remains committed to accumulation rather than stabilization. With Bitcoin supply tightening and institutional demand showing signs of recovery, the company appears willing to keep adding during periods of strength, not just during market drawdowns. Whether this approach continues will depend on market conditions, funding costs, and shareholder tolerance for volatility. For now, Strategy has moved decisively back into buying mode, reinforcing its identity as the most concentrated corporate bet on Bitcoin’s long-term role as a monetary asset.