Strategy owns $46B worth of bitcoin after latest buy

SEC filing shows Strategy used equity sales to fund new bitcoin buys, bringing holdings to nearly $47 billion

by Blockworks /
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Strategy Executive Chairman Michael Saylor | DAS 2025 New York by Mike Lawrence for Blockworks

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Strategy Inc. disclosed the purchase of 4,048 bitcoin between Aug. 26 and Sept. 1, 2025, according to a Form 8-K filing with the US Securities and Exchange Commission.

The company said it spent $449.3 million at an average price of $110,981 per bitcoin, raising its total holdings to 636,505 BTC, valued at $46.95 billion on a cost basis. The average acquisition price across all purchases now stands at $73,765.

The purchases were financed through multiple at-the-market (ATM) equity programs, including sales of both preferred and common stock. In the same filing, Strategy disclosed selling more than 1.69 million shares across its preferred stock classes and common equity, generating net proceeds of $471.8 million.

Proceeds from these sales directly funded the bitcoin accumulation, reflecting founder Michael Saylor’s ongoing strategy of leveraging capital markets to increase exposure to the cryptocurrency. The pace of accumulation underscores the company’s position as the largest corporate holder of bitcoin, with more than 3% of the total supply in circulation.

Strategy also highlighted its public dashboard as a disclosure channel under Regulation FD, noting that it provides updates on bitcoin holdings, share issuance, and key performance metrics. The company’s average cost basis remains well below recent market purchase prices, pointing to significant unrealized gains.

This is a developing story.


This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.


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