Strategy Restarts Bitcoin Buying With 4,603 BTC Acquisition

• MSTR
• BTC-USD

Strategy has made its first bitcoin purchase in two months, acquiring 4,603 BTC for $369.7 million at an average price of $80,318 per coin, according to a Monday morning press release from the company. The purchase lifts Strategy’s total holdings to 845,050 BTC and ends a buying pause.

The mechanics of the deal are straightforward. Strategy sold $602.8 million worth of common stock and used $369.7 million of those proceeds to buy the 4,603 BTC.

The remaining proceeds were split between $151.8 million used to repurchase the company’s STRC preferred stock and an addition to Strategy’s cash reserves. With this latest purchase, Strategy’s total Bitcoin acquisition cost stands at approximately $63.73 billion, putting its all-time average purchase price at roughly $75,412 per BTC, meaningfully below the $80,318 it paid for last week’s tranche.

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Strategy Corporate Bitcoin Treasury

Strategy, led by Executive Chairman Michael Saylor, now holds 845,050 BTC, a position that keeps it as the largest publicly disclosed corporate Bitcoin holder in the market. The company’s MSTR stock is effectively a proxy for that holding, and its share price tends to move in tandem with bitcoin’s swings, sometimes with amplified volatility.

Michael Saylor presenting his thesis on Bitcoin at the Bitcoin 2025 conference.

It’s worth noting that Strategy’s holdings have fluctuated over the course of 2026 through a mix of purchases and smaller trims, though the exact sequence of those moves across the year sits outside what this latest filing confirms.

What the filing does confirm is where things stand today: 845,050 BTC, an average cost basis of $75,412, and a fresh signal that the buying program is active again.

What the Purchase Means for Bitcoin Investors

Strategy chose to buy at roughly $80,318 per coin rather than wait for a pullback, which some will read as a vote of long-term conviction in bitcoin. That said, one company’s buying decision isn’t a reliable short-term price signal for the market.

The financing structure matters just as much as the purchase itself. Selling common stock to fund Bitcoin exposure can grow the treasury without adding leverage, but it also dilutes existing shareholders, meaning MSTR investors are exposed to both bitcoin’s volatility and the company’s equity-issuance decisions.

Anyone weighing MSTR as a bitcoin proxy should understand this trade-off, which is explored further in this analysis of risks facing Strategy’s equity-financed treasury model. Whether this purchase marks the start of a sustained new accumulation phase or a one-off move remains unconfirmed until Strategy’s next filing.

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Read original story Strategy Restarts Bitcoin Buying With 4,603 BTC Acquisition by Akiyama Felix at 99bitcoins.com

Source: finance.yahoo.com