Strategy Inc. Adds 397 BTC, Holdings Surpass 641,000 Coins Worth $69B

Strategy (MSTR), led by Michael Saylor, recently purchased 397 BTC for approximately $45.6 million at an average price of $114,771 per coin, increasing its total Bitcoin holdings to over 641,205 BTC valued at more than $69 billion. The company funds these Bitcoin acquisitions mainly through the sale of common stock and some preferred shares, despite diluting shareholders and issuing perpetual preferred stock with yields ranging from 8% to 12.5%. Strategy's enterprise value has fallen near the threshold where it would limit further common stock sales for Bitcoin purchases, making future sizable acquisitions uncertain. The firm continues to treat Bitcoin as its primary treasury reserve asset, with a Bitcoin yield for 2025 at 26.1%, demonstrating its commitment to accumulating despite market volatility. Recent share price declines have impacted the minimum net asset value ratio, potentially restricting additional share sales and Bitcoin buys in the near term. This strategy reflects ongoing challenges in balancing shareholder dilution with aggressive Bitcoin accumulation in a fluctuating cryptocurrency market.