Strategy Acquires 13,627 Bitcoin for $1.25 Billion, Holdings Surpass 687,000 BTC

Strategy has continued its aggressive Bitcoin accumulation strategy with a $1.25 billion purchase of 13,627 BTC, marking the company's largest acquisition since July and reinforcing its position as the world's largest corporate holder of Bitcoin.

Latest Purchase Details

The Bitcoin purchases were executed between January 5 and January 11 at an average price of $91,519 per coin, according to a Form 8-K filing with the United States Securities and Exchange Commission disclosed on Monday ^[1][2]. This brings the company's total Bitcoin holdings to 687,410 BTC, acquired at an aggregate cost of approximately $51.8 billion ^[1][2].

With the current Bitcoin price hovering around $90,555, the company's cryptocurrency holdings are now valued at roughly $62 billion ^[2]. The company's average purchase price across all Bitcoin acquisitions stands at $75,353 per coin ^[1][2].

Strategy now holds 3.44 percent of Bitcoin's current circulating supply, significantly more than any other company ^[3]. The next largest Bitcoin treasury companies, MARA Holdings and Twenty One Capital, hold 53,250 and 43,514 BTC respectively ^[3].

Funding Through Equity Issuance

The latest Bitcoin acquisition was funded through the company's at-the-market equity offering programs, which generated approximately $1.25 billion in net proceeds ^[1]. The capital raise included sales of Class A common stock (MSTR), contributing around $1.1 billion, and 10.00% Series A perpetual preferred stock (STRC), which added $119 million ^[2].

According to the filing, the company maintains substantial remaining issuance capacity across both its common and preferred stock programs, demonstrating that equity market access remains central to its Bitcoin accumulation strategy ^[1].

Accumulation Despite Market Volatility

The purchase represents Strategy's third consecutive week of Bitcoin acquisitions in early 2025. The previous week, the company disclosed another significant purchase of 1,286 BTC for approximately $116 million, made between late December and early January ^[2].

These acquisitions continued despite the company reporting a $17.44 billion unrealized loss on its Bitcoin holdings during the fourth quarter of 2025, as Bitcoin prices declined more than 20 percent from October highs ^[1][2]. The company also increased its U.S. dollar reserves to $2.25 billion to support preferred dividends and debt obligations ^[2].

Index Inclusion Controversy Resolved

Strategy recently navigated a potential crisis involving MSCI, one of the world's most influential index providers, which launched a review in late 2025 to consider excluding Digital Asset Treasury Companies (DATCOs) from major benchmarks ^[2]. Companies with more than approximately 50 percent of assets in digital assets were under scrutiny for inclusion in indexes like the MSCI World and MSCI USA ^[2].

Analysts from JPMorgan and TD Cowen estimated that index exclusion could have threatened billions in market value, with potential outflows of up to $2.8 billion from MSCI-linked funds alone ^[2]. The company's stock price dropped sharply in late 2025 amid these concerns ^[2].

Founder Michael Saylor publicly defended the company's status, stating on X that it is "not a fund, not a trust, and not a holding company" but rather a publicly traded operating company with a $500 million software business and a unique treasury strategy using Bitcoin as productive capital ^[2].

In early January 2026, MSCI announced it would not implement the proposed exclusions at that time, providing short-term relief that led to a 4-6 percent rise in MSTR stock ^[2][3]. However, MSCI indicated broader consultations on company classifications could resurface later in 2026 ^[2].

Market Impact

Despite Strategy's continued accumulation, Bitcoin's price has remained relatively stable, trading around the $90,000 range over recent months ^[2]. However, MSTR stock has declined approximately 60 percent year-over-year, while Bitcoin has dropped 5.4 percent over the same period ^[3].