Corporate Bitcoin adoption continues to grow as Strategy (formerly MicroStrategy) recently acquired 168 BTC, further expanding its massive treasury during a period of market turbulence. This move demonstrates the company’s ongoing commitment to institutional Bitcoin accumulation, even amid short-term volatility.
Strategy’s Latest Bitcoin Purchase
The company purchased 168 BTC for approximately $18.8 million, averaging $112,051 per coin. The acquisition occurred between October 13 and 14, following the market sell-off triggered by the Black Friday crypto crash earlier in the month.
With this latest addition, Strategy now holds a total of 640,418 BTC, maintaining an average cost of $74,010 per BTC across all acquisitions. This makes the firm one of the largest corporate holders of Bitcoin globally, positioning it as a benchmark for institutional adoption.
At the time of the purchase, Strategy’s stock (MSTR) traded at $296.61, reflecting a 2.33% gain even as Bitcoin was down 3.14% to $107,792.91, indicating market confidence in the company’s accumulation strategy.
Funding Strategy’s Bitcoin Acquisitions
Strategy’s Bitcoin purchases are primarily funded through at-the-market (ATM) sales of its perpetual preferred stocks, including STRK, STRF, STRD, and STRC. These programs include:
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STRK: $21 billion
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STRF: $4.2 billion
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STRD: $4.2 billion
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STRC: $2.1 billion
These initiatives are part of Strategy’s broader “42/42” equity plan, an upsized program from the original “21/21” plan. Collectively, the company aims to raise $84 billion in equity offerings and convertible notes to continue its Bitcoin accumulation through 2027.
This financing approach reflects Strategy’s long-term view on Bitcoin, prioritizing accumulation over short-term market swings.
Market and Analyst Reactions
The market response to Strategy’s purchase was generally positive. MSTR stock saw modest gains, while Bitcoin’s price remained slightly lower. Critics, including gold advocate Peter Schiff, questioned the timing and high average purchase price. However, Strategy’s ongoing accumulation reinforces its leadership in corporate Bitcoin adoption.
Data from BitBo shows that Strategy currently holds 640,031 BTC, valued at approximately $71.84 billion, confirming its status as the world’s largest corporate Bitcoin treasury. CoinGecko’s Bitcoin Treasury Holdings data further supports this, highlighting Strategy’s influential role in integrating Bitcoin into corporate reserves.
Strategy’s Growing Confidence in Bitcoin
Despite market fluctuations, Strategy’s approach indicates strong confidence in Bitcoin as a long-term asset. By steadily increasing its holdings, the company sets a precedent for other institutions considering Bitcoin as part of their treasury strategies.
Analysts note that large-scale acquisitions by corporate holders like Strategy can also influence market sentiment, signaling stability and a long-term bullish outlook for Bitcoin. The company’s consistent purchases demonstrate a commitment to treating BTC not just as a speculative asset, but as a core component of corporate financial strategy.
Looking Ahead
Strategy’s ongoing accumulation is expected to continue through 2027, as its ATM programs and equity plans provide a steady pipeline of capital for Bitcoin purchases. With corporate adoption on the rise, Strategy’s actions may encourage other firms to explore similar accumulation strategies, potentially shaping institutional participation in the crypto market for years to come.
For investors and market watchers, the company’s moves provide insight into how large-scale accumulation can coexist with market volatility, highlighting Bitcoin’s growing legitimacy as a treasury asset.
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