Strategy Inc Buys 2,932 Bitcoin for $264M; Total Holdings Hits 712,647

Key Highlights

Strategy has acquired 2,932 BTC, via $264 million in net proceeds from selling approximately 1.57 million shares.
Strategy now commands 3.4% of the total fixed supply of Bitcoin.
Saylor is executing a continuous capital recycling model, ignoring traditional market timing and price volatility.

Strategy Inc., the largest Bitcoin treasury firm, announced today that it has acquired 2,932 additional bitcoin for about $264.1 million. The purchases, made between January 20 and January 25, were mainly funded by the sale of over 1.5 million shares under the company’s stock offering program.

With these purchases, Strategy has now accumulated a total of 712,647 BTC, which represents about 3.4% of the 21 million total supply. At current market prices, the company’s total holdings are worth around $63 billion. The firm reported an average purchase price of $90,061 per token for this batch, which is notably higher than its lifetime average cost of $76,037 per bitcoin.

Corporate strategy and Background

Since it first entered the market in August 2020, the company has consistently used capital markets, including equity sales and convertible debt, to buy bitcoin. By moving beyond its original role as a business intelligence software provider, it has turned its balance sheet into a way for institutional investors to gain bitcoin exposure.

The size of the current treasury cost a total of $54.19 billion to acquire. The company now holds more bitcoin than many countries and has outperformed most traditional equity benchmarks since it adopted its digital asset strategy.

Recent Bitcoin acquisitions

Strategy has made four acquisitions totaling over 40,000 BTC in just three weeks. After securing 1,283 Bitcoin in the first week of the year and 13,627 BTC for $1.25 billion in the second week of January, Strategy bought 22,305 BTC for $2.13 billion the following week.

Finally, the company added a further 2,932 BTC for $264.1 million by January 25. Strategy Inc. has maintained its buying momentum even as market prices fluctuate near the $90,000 mark.

“Unstoppable Orange” and Market influence

Saylor has referred to this strategy as “Unstoppable Orange,” which he uses to position Bitcoin as a form of monetary reserve capital rather than a speculative asset. The most recent chart he posted shows continuous accumulation at rising prices, which further emphasizes that Strategy is aimed at supply capture, not market timing.

With Strategy’s growing influence on market liquidity, its proximity to controlling 3.5% of all Bitcoin that will ever exist also increases its market influence. The coins held by the company are considered to be long-term and illiquid.

Current market and future outlook

At the time of writing, Bitcoin is trading at $87,599, reflecting a decline of 1.46% over 24 hours. The total market capitalization stands at $1.8 trillion. The circulating supply currently is 19.97 million BTC, accounting for approximately 95% of the 21 million maximum supply.

As Strategy Inc approaches ownership of approximately 3.5% of the total supply of bitcoin, its influence on market liquidity and the dynamics of supply are increasing. The market is closely observing if Strategy can keep up this pace, especially since it still has billions of dollars available in its current stock offering programs.