Michael Saylor’s firm, Strategy, has added more Bitcoin to its balance sheet. The company continues to follow its long-standing approach of regularly buying Bitcoin, although recent purchases show a slowdown in volume.
Latest Bitcoin Buy Adds to Growing Holdings
Strategy disclosed in a filing with the U.S. Securities and Exchange Commission that it bought 397 Bitcoin last week. The total value of the purchase was about $45.6 million, with an average price of $114,771 per coin.
With this addition, Strategy now holds 641,205 Bitcoin. The company has spent around $47.49 billion on Bitcoin so far. The average price paid across all its purchases stands at $74,047 per coin. At current market prices, its holdings are worth roughly $69 billion, putting its paper gains at over $21 billion.
Acquisition Rate Slows Compared to Earlier Months
The rate at which Strategy is buying Bitcoin has dropped compared to earlier in the year. In October, the company added 778 Bitcoin. The previous month, it had purchased 3,526 Bitcoin—more than four times as much.
The purchase of 397 Bitcoin last week closely follows the previous week’s total of 390 coins. Earlier in the year, Strategy made some purchases worth over $1 billion. The latest numbers show a clear change in the company’s buying pattern.
Institutional Demand Closely Watched
Some analysts are paying close attention to the reduced pace of buying. According to data from CryptoQuant, Strategy and U.S. spot Bitcoin ETFs have been the largest sources of demand so far in 2025. Any change in their buying behavior is being carefully tracked.
“Demand is now driven mostly by ETFs and MicroStrategy, both slowing buys recently. If these two channels recover, market momentum likely returns,” said Ki Young Ju, CEO of CryptoQuant.
Analysts suggest that the market may not see strong movement until these major buyers increase their activity again. For now, Strategy continues to report its Bitcoin purchases each week, following a routine it began in late 2024.
Earnings Strong but Share Price Slides
Despite the slower buying pace, Strategy recently posted strong earnings. The company reported a net income of $2.8 billion and an operating income of $3.9 billion. Much of this performance has come from gains in its Bitcoin portfolio.
Still, Strategy’s stock has not followed the same upward path. Shares of MSTR have fallen by about 23% over the past month and are now trading around $270. The price drop has come even as the company’s Bitcoin holdings continue to increase in value.
Strategy remains committed to holding Bitcoin long-term, even as its purchase amounts vary from week to week.
