Saylor’s Strategy Adds 8,178 BTC in $836M Push, Lifting Holdings to 649,870 Bitcoin

Latest filing reveals largest BTC purchase since July amid renewed scrutiny

TL;DR

• Strategy bought 8,178 BTC for $836M at an average price of $102,171 between Nov. 10–16.
• Total holdings climbed to 649,870 BTC worth $61.7B, over 3% of Bitcoin’s 21M supply.
• Purchase was funded by a mix of ATM preferred-stock programs and a €620M euro-denominated issuance.

Strategy’s latest regulatory filing details an aggressive round of Bitcoin accumulation that added 8,178 BTC to its balance sheet for approximately $835.6 million, marking the company’s largest single acquisition since July. The Bitcoin haul was accumulated between Nov. 10 and Nov. 16 at an average price of $102,171 per coin, according to the SEC 8-K form released on Nov. 17. 

The move followed several days of speculation across trading desks that Strategy had started offloading part of its long-held reserve. The filing, along with Michael Saylor’s weekend hint that a “Big week” was coming, ultimately swung the narrative in the opposite direction and reinforced the company’s persistent role in shaping institutional exposure through a rising crypto price index.

The latest addition lifts Strategy’s total holdings to 649,870 BTC, valued around $61.7 billion at current levels. The firm’s long-term average purchase price across all acquisitions stands at $74,433 per BTC, translating into roughly $13.3 billion in embedded gains based on the latest crypto price snapshots. The position represents more than 3% of Bitcoin’s fixed 21 million supply—an amount that continues to hold outsized influence within the broader institutional coin market cap landscape, especially as more public companies adopt BTC treasury strategies worldwide.

Funding for the acquisition was drawn from multiple perpetual preferred-stock programs that have formed the backbone of Strategy’s capital structure throughout its multiyear accumulation phase. Proceeds from at-the-market issuances of the firm’s STRK, STRF, and STRC preferred shares contributed to the purchase, complemented by €620 million ($715 million) raised through Strategy’s first euro-denominated preferred offering, STRE. 

These issuances sit alongside the company’s broader “42/42” expansion plan—an $84 billion blueprint that scales up its earlier $42 billion “21/21” capital program following the rapid depletion of available equity. Each class of preferred stock carries a distinct risk and dividend profile, including STRK’s 8% non-cumulative convertible structure, STRF’s 10% cumulative payout, STRD’s higher-risk non-cumulative 10% approach, and STRC’s variable-rate monthly dividend intended to track par value more closely.

The latest 8,178 BTC purchase arrived shortly after Strategy disclosed a smaller acquisition of 487 BTC for roughly $49.9 million at an average price of $102,557, bringing its holdings to 641,692 BTC just days before the larger move reset the week’s total. 

The steady ramp-up of activity, punctuated by Saylor’s public signal and followed by the official filing, provided a clearer picture of a balance-sheet strategy that remains undeterred by shifting market sentiment or by the volatility reflected across daily crypto price measures. It also lands during a period when 194 public companies now hold Bitcoin on their balance sheets—ranging from Marathon Digital and Tether-backed Twenty One to Metaplanet and the Cantor Fitzgerald-aligned Bitcoin Standard Treasury Company—highlighting the accelerating influence of corporate treasuries as a structural force in the digital asset market.

Strategy’s continued accumulation reasserts the company’s role at the center of Bitcoin’s institutional narrative, deepening its position as the largest corporate BTC holder on record. The pace, financing structure, and scale of the latest purchase also underscore how quickly its balance sheet has evolved into a leverage-driven engine designed to convert traditional capital markets into long-dated exposure to Bitcoin’s limited supply, even as volatility and liquidity cycles shift across the global coin market cap environment.

This article has been refined and enhanced by ChatGPT.