Strategy executed its largest Bitcoin acquisition since July 2025, adding 13,627 BTC, according to company filings and market reports. The tranche cost roughly $1.25B at an average price of $91,519 per coin.
Between January 5 and January 11, Strategy expanded its treasury with 13,627 BTC, its largest single buy since July 2025. The firm paid approximately $1.25B for the coins, implying an average execution price near $91,519 per BTC. Funding came predominantly from common-stock sales, with a smaller allocation drawn from the firm’s perpetual preferred instrument, STRC.
The approach aligned with Strategy’s stated capital allocation framework that prioritizes equity-based funding for Bitcoin purchases. The purchases were financed primarily through equity issuance—about $1.1B via common stock and $119.1M via perpetual preferred equity (STRC)—a funding mix the company has used in prior accumulation phases.
Balance-sheet impact and market implications
After this tranche, Strategy’s disclosed holdings rose to 687,410 BTC, with an aggregate purchase cost of about $51.8B and an updated average acquisition price of $75,353 per BTC. That scale cements the company’s position as the largest corporate holder of Bitcoin and enlarges the balance-sheet exposure to one asset class.
For corporate treasuries and institutional investors, the transaction reiterates key operational trade-offs: using equity issuance preserves cash on the balance sheet but dilutes shareholders and ties public equity performance to Bitcoin price volatility.
For traders, the purchase removed a meaningful block of spot liquidity during a multi-day window and could have temporarily tightened available supply, depending on placement and counterparties.
Risk factors are straightforward. The company’s concentrated exposure increases sensitivity to BTC drawdowns versus diversified treasury strategies. Equity-funded accumulation also links future capital markets activity—stock offerings, preferred issuance—to the company’s ability to continue buying without creating adverse price action or signaling dilution risks to shareholders.
Investors are now watching forthcoming corporate disclosures and market flows to see whether Strategy maintains the same funding mix for future purchases, and how continued accumulation at an elevated average cost will affect the stock and treasury volatility.
