Strategy Expands Bitcoin Hoard to 641,205 BTC Amid Market Volatility

Strategy boosts its Bitcoin stash to 641,205 BTC worth $69B, showing strong conviction despite market volatility and weak stock.

The firm expands its $84B capital plan to keep buying Bitcoin through 2027, funding purchases via equity and preferred shares.

Strategy’s shares drop 41% even as profits fall, but its massive Bitcoin position still delivers over $21B in unrealized gains.

Bitcoin treasury giant Strategy — formerly known as MicroStrategy — continues its aggressive accumulation spree despite mounting market uncertainty. The firm purchased 397 BTC for about $45.6 million between October 27 and November 2, at an average price of $114,771 per coin, according to an SEC filing. This move signals Strategy’s continued conviction in Bitcoin, even as its stock and market premium weaken.

The acquisition lifts Strategy’s total holdings to 641,205 BTC, valued near $69 billion at current prices. Co-founder and executive chairman Michael Saylor confirmed the firm’s average purchase price sits at $74,057 per bitcoin, bringing total costs to $47.5 billion. Hence, the company now commands more than 3% of Bitcoin’s 21 million supply, representing roughly $21.5 billion in unrealized gains.

Expanding Capital Programs for Long-Term Accumulation

Strategy financed the latest purchases through proceeds from its active equity and preferred stock programs. The firm’s “42/42” capital plan — now upsized to $84 billion — targets continuous funding for Bitcoin acquisitions through 2027. Moreover, the company has multiple perpetual preferred share classes, including STRK, STRF, STRC, and STRD, offering investors varied risk and dividend profiles.

Last week, Strategy sold 183,501 MSTR shares for $54.4 million. It also issued 49,374 STRK, 76,017 STRF, and 29,065 STRD shares for roughly $15 million combined. Consequently, about $15.85 billion in MSTR shares and over $26 billion in preferred shares remain available for sale under its capital programs.

Strategy’s Market Performance Slows Despite Record Holdings

Despite strong Bitcoin exposure, Strategy’s stock has fallen 41% from summer highs. Its market cap-to-net asset value ratio now sits near 1.1, reflecting fading investor enthusiasm. Besides, its third-quarter profit dropped sharply to $2.8 billion, down from $10 billion previously, marking its weakest result since adopting fair-value accounting. However, earnings still exceeded analyst expectations at $8.42 per share.

According to Bitcoin Treasuries data, 192 public companies now hold BTC, led by MARA, Tether-backed Twenty One, and Metaplanet. Together, they strengthen institutional demand despite weak price performance.

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