Key Insights:
- Strategy bought 10,624 BTC for $962.7M, raising total holdings to 660,624 BTC last week.
- The company funded the purchase through $963M in equity and preferred stock sales.
- Strategy’s Bitcoin stash is now valued near $60.5B, with roughly $11B in unrealized gains.
Strategy expanded its Bitcoin reserves last week with a large acquisition, returning the company to a scale of buying last seen in mid-2025. The company purchased 10,624 BTC for approximately $962.7 million during the period from December 1 to 7, according to a regulatory filing. The move lifted total holdings to 660,624 BTC, reinforcing Strategy’s position as the largest publicly traded corporate holder of Bitcoin.
Large Weekly Purchase Marks Return to Bitcoin Accumulation
The latest acquisition pushed Strategy’s Bitcoin purchases back toward levels seen earlier in the year, after several months of more measured buying. Recent activity consisted of frequent but smaller transactions, as weaker equity prices made capital raising more challenging.
However, during the Dec. 1–7 window, the company paid an average price of $90,615 per coin. This lifted the total cost basis of its 660,624 BTC to about $49.35 billion, translating to an average purchase price of $74,696 per Bitcoin across all acquisitions to date.
At a current market price of nearly $91,500, Strategy’s holdings are valued at approximately $60.5 billion. That leaves the firm with approximately $11 billion in unrealized gains on its Bitcoin position, even after recent volatility in the crypto market. The company continues to present its balance sheet as a leveraged way for equity investors to gain exposure to Bitcoin.
Strategy’s common shares moved higher on Monday, adding about 2% in premarket trading alongside a mild recovery in Bitcoin. The stock rebounded from a low near $155 on Dec. 1, reached during a broad sell-off in crypto-linked equities, but it remains more than 50% lower over the past six months.
Equity Sales Fund Nearly $1 Billion in New BTC
Strategy said the latest purchase was funded mainly through its at-the-market equity issuance program. According to the company’s disclosure, it raised $928.1 million from the sale of 5.13 million MSTR common shares.
The firm also raised $34.9 million by selling 442,536 shares of STRD preferred stock. Combined, these transactions generated net proceeds of roughly $963 million, which were used to pay for the 10,624 BTC acquired during the week.
The company retains a large amount of remaining issuance authority across multiple securities. The strategy reported unused at-the-market capacity of approximately $13.45 billion for common stock alone. Across various preferred and structured instruments, including STRK, STRF, STRC, and STRD, remaining potential issuance is said to exceed $26 billion.
In recent weeks, Strategy raised nearly $2 billion to reinforce its cash position, particularly to service preferred dividend obligations. The new Bitcoin purchase followed the capital raise, indicating a continued willingness to tap public markets for both liquidity and additional BTC accumulation.
Saylor Emphasizes BTC Yield and Middle East Outreach
Executive Chairman Michael Saylor framed the company’s approach through its internal “BTC Yield” metric, which it says reached 24.7% year-to-date in 2025. The measure tracks growth in Bitcoin held per diluted share, separating it from movements in dollar price. Strategy has increasingly used this metric in communications with investors as it positions itself as a Bitcoin-focused treasury and structured finance platform.
Saylor spent the past week at the BTC Conference in Abu Dhabi, where he said he met with sovereign wealth funds, banks, family offices, and hedge funds from across the Middle East. Those meetings centered on Bitcoin and capital markets, although Strategy did not disclose whether any of the discussions had produced concrete funding arrangements.
The company continues to present its business model as a blend of software operations and Bitcoin-backed financing activities. Saylor has repeatedly described Bitcoin as the core asset around which new credit and treasury strategies can be structured.
BTC Price Action and Market Backdrop
The most recent purchase came as Bitcoin recovered from a pullback that briefly pushed prices into the low $80,000s. Over the past 24 hours, the asset gained approximately 2%, and it was up around 1.5% as of Monday morning. Some market analysts attributed the support for risk assets following the latest correction to expectations of potential Federal Reserve rate cuts this week.
Even with the recovery in Bitcoin price, Strategy operates in an uncertain environment. The company’s reliance on equity issuance to fund purchases draws debate among investors, who see both increased upside potential and deeper exposure during downturns.
Moreover, the recent capital raises have been used both to strengthen cash reserves and to acquire additional Bitcoin, thereby extending the firm’s leveraged approach to the asset.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
