Strategy, the company formerly known as MicroStrategy, has added 4,048 BTC to its treasury. The purchase, worth about $449.3 million, was made between August 26 and September 1 at an average price of $110,981 per coin, according to an SEC filing.
With this acquisition, the firm now holds 636,505 BTC, bought at an average price of $73,765. The total cost is about $47 billion, while the market value stands near $70 billion with bitcoin trading below $110,000. Michael Saylor, Strategy’s co-founder and executive chairman, noted that the company has achieved a 25.7% yield year-to-date in 2025.
Equity and Preferred Stock Funding
The latest purchase was funded through sales of common equity and perpetual preferred stock. Strategy sold 1.24 million MSTR shares for $425.3 million, leaving $16.3 billion available under its ongoing program.
Additional sales included 199,509 STRK shares for $19 million, 237,931 STRF shares for $26.5 million, and 12,973 STRD shares for $1 million. These instruments carry different dividend terms and risk levels, providing the company with multiple options to raise capital.
This activity supports Strategy’s “42/42” plan, which targets $84 billion in equity and convertible debt issuance for bitcoin acquisitions through 2027. The plan was expanded from the original $42 billion framework after earlier programs were exhausted.
Other Corporate Accumulations
The purchase came a day after Japanese firm Metaplanet disclosed it had added 1,009 BTC for $112 million, bringing its total holdings to 20,000 BTC. Separately, SharpLink confirmed it acquired 39,008 ETH at an average of $4,531, lifting its stash to 837,230 ETH, now valued at about $3.6 billion.
According to Bitcoin Treasuries, 163 public companies hold bitcoin as part of their corporate strategy. Other large holders include Marathon Digital (50,639 BTC), Twenty One (43,514 BTC), and Bullish (24,000 BTC).
Market Position and Outlook
Saylor commented on the latest move by posting “Bitcoin is still on sale.” Some investors, however, have questioned the company’s decision to issue stock below its market cap-to-net asset value ratio of 2.5x, despite earlier commitments. Strategy later clarified that it will proceed with issuance if it considers the timing favorable.
Strategy’s market capitalization stands at $94.8 billion, trading above its net asset value. Analysts point to low debt obligations, with no repayments due until 2028, as a reason the firm can continue its approach.
Shares of MSTR closed at $334.41, down 1.3% on Friday, while bitcoin slipped about 2% during the same week. As we recently reported, the company remains under consideration for inclusion in the S&P 500, with the index committee set to announce its September changes on September 5.
