Strategy, a publicly traded Bitcoin investment firm led by CEO Michael Saylor, has executed its largest Bitcoin purchase in eight months, acquiring 21,021 BTC for a total value of $2.46 billion at an average price of $117,256 per coin [1]. This transaction significantly expands the company’s Bitcoin reserves, which now total 628,791 BTC, with an average cost basis of $73,277 per token, representing a total investment of $46.08 billion [2]. The purchase was funded through a recent IPO of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), which raised $2.52 billion [3].
This acquisition is notable not only for its scale but also for its strategic timing, as it coincides with a broader market recovery and increased institutional interest in Bitcoin. Strategy has positioned itself as a major player in the corporate adoption of digital assets, with its Bitcoin portfolio currently valued at approximately $74.04 billion—implying a profit of $27.96 billion, or 60.6%, since acquisition [4]. The firm’s ongoing accumulation strategy underscores its long-term conviction in Bitcoin as a store of value and its belief in the digital asset’s potential to deliver consistent returns.
On-chain analytics indicate a recent shift in Bitcoin’s supply dynamics, with Glassnode noting a 11% negative change in the ratio of supply held by short-term holders (STHs) compared to long-term holders (LTHs) over the past month [5]. This shift suggests a movement of capital from long-term to short-term holders, a trend that has historically preceded major price milestones. While Strategy continues to hold its Bitcoin, other strong hands appear to have reduced their positions, raising questions about near-term market sentiment and potential price volatility.
Despite recent volatility, Bitcoin’s price has remained relatively stable around $117,800, reflecting a sideways trend over the past few weeks [6]. The market’s reaction to large corporate purchases like Strategy’s could influence Bitcoin’s trajectory in the coming months, particularly if institutional adoption continues to accelerate. Analysts have pointed out that Strategy’s actions may serve as a benchmark for future corporate strategies involving Bitcoin, further solidifying the firm’s role in shaping the institutional crypto landscape.
[1] Bitcoinist, https://bitcoinist.com/strategy-2-46-billion-bitcoin-biggest-purchase-8/
[2] The Cryptobasic, https://thecryptobasic.com/2025/07/30/strategy-now-owns-628791-bitcoin-after-new-2-5b-investment/
[3] MSN, https://www.msn.com/en-us/money/markets/strategy-raises-252-billion-in-its-2025-ipo-to-buy-21021-btc/ar-AA1JxhUS
[4] X (KrissPax), https://x.com/krisspax?lang=en
[5] CoinCentral, https://coincentral.com/michael-saylors-strategy-drops-2-4b-on-bitcoin-in-massive-stock-deal/
[6] TradingView, BTCUSDT chart
