Strategy has expanded its Bitcoin treasury again, buying 2,932 bitcoin (BTC) for about $264.1 million between Jan. 20 and Jan. 25, the company disclosed in a Monday filing.
The purchase lifted Strategy Bitcoin holdings to 712,647 BTC as of Jan. 25, strengthening its position as the largest known corporate holder of bitcoin.
Strategy paid an average price of $90,061 per BTC, including fees and expenses, the disclosure said. The company framed the acquisition as part of its ongoing Bitcoin accumulation strategy.
The filing said the buying pace slowed from the prior two weeks, when acquisitions topped $1 billion in each week. Still, the latest transaction kept Strategy’s multi-year approach intact.
Executive chairman Michael Saylor signaled the purchase on Sunday with a short post: “Unstoppable Orange.” The company later confirmed the acquisition through its disclosure.
Strategy said it funded the purchase mainly through share issuance under its at-the-market (ATM) offering program. The company sold about 1.57 million shares of its Class A common stock during the Jan. 20–25 period.
Those stock sales generated net proceeds of about $257 million, the company said. In addition, Strategy issued roughly 70,201 shares of its variable rate preferred stock.
The preferred issuance raised about $7 million, bringing total net proceeds to roughly $264 million, which Strategy then used for bitcoin purchases. The disclosure also indicated remaining capacity across multiple equity and preferred programs for potential future issuance.
Strategy reported aggregate bitcoin purchases of about $54.19 billion, with an average acquisition price of $76,037 per BTC, including fees and expenses. The figures reflect purchases made across multiple market cycles, according to the disclosure.
With bitcoin near $87,500 on Monday morning, the company’s holdings were valued at just over $62 billion. The update underscored how Strategy’s balance sheet exposure tracks bitcoin price movements.
Strategy has repeatedly described bitcoin as a scarce, inflation-resistant reserve asset amid concerns about currency debasement and macro uncertainty, according to the provided text. However, the strategy remains closely watched because bitcoin volatility can amplify swings in the company’s market perception.
Looking ahead, Strategy’s continued use of MSTR stock sales and STRC preferred stock issuance will keep investor attention on funding conditions and bitcoin price levels as 2026 unfolds, based on the company’s stated accumulation approach.
Bitcoin traded near $86,000 around Sunday’s weekly close as buyers defended that level in early Asian hours, TradingView data showed. Meanwhile, CoinGlass data showed nearly $750 million in 24-hour liquidations across crypto.
Moreover, CoinShares reported $1.73 billion in weekly outflows from crypto exchange-traded products (ETPs), the biggest since mid-November 2025. CoinShares research head James Butterfill linked the moves to weaker rate-cut expectations, negative momentum, and fading hopes of debasement trades.
Bitcoin and Ether led withdrawals, with about $1.09 billion and $630 million in outflows, respectively, the report said. Traders warned of further downside, with some forecasting a drop toward the low $80,000s in the coming weeks.