Strategy Adds 196 BTC, Total Holdings Reach 640,031 Worth $71.8 Billion

Highlights:

• Strategy added 196 BTC last week, spending $22.1 million at $113,048 each.
• Total Bitcoin holdings now 640,031 BTC, worth $71.8 billion including fees.
• Saylor expects Bitcoin gains year-end as corporate and institutional demand absorb supply.

Bitcoin treasury firm Strategy (formerly MicroStrategy) added 196 BTC between September 22–28, spending about $22.1 million. An SEC 8-K filing on Monday showed the average price per coin was $113,048. The company now owns 640,031 BTC, valued at $71.8 billion, bought at an average price of $73,983 each, totaling roughly $47.4 billion, including fees, Michael Saylor, co-founder and executive chairman, shared. This stash represents over 3% of Bitcoin’s total 21 million supply, showing around $24.4 billion in unrealized gains. 

Strategy has acquired 196 BTC for ~$22.1 million at ~$113,048 per bitcoin. As of 9/28/2025, we hodl 640,031 $BTC acquired for ~$47.35 billion at ~$73,983 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/NnmLONBsRK

— Michael Saylor (@saylor) September 29, 2025

Michael Saylor hinted at the latest Bitcoin purchase in a recent post on X (formerly Twitter). In his message, he stated, “Always ₿e Stacking,” indicating that the company has continued its approach of acquiring more Bitcoin. His post also suggests that Strategy intends to keep buying Bitcoin, regardless of current market conditions.

The recent purchases were funded through at-the-market sales of its Class A common stock (MSTR) and perpetual preferred stocks STRF and STRD. Strategy’s preferred stocks STRK, STRC, STRF, and STRD have ATM programs worth $21B, $4.2B, $2.1B, and $4.2B. These programs back the “42/42” plan, aiming to raise $84B for Bitcoin purchases through 2027, twice the size of the original “21/21” plan.

Recent Bitcoin Purchases and Funding Shift

Last week, Strategy revealed it purchased 850 BTC for $99.7 million, bringing total holdings to 639,835 BTC. In recent weeks, the pace of Bitcoin purchases has slowed as the company shifted its focus from the common stock ATM program to using perpetual preferred stocks to fund further acquisitions.

Bitcoin Treasuries data shows that 180 public companies have now adopted some form of Bitcoin acquisition strategy. The top 10 includes MARA, Tether-backed Twenty One, Adam Back, and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company, Metaplanet, Bullish, Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase. Their holdings are 52,477 BTC, 43,514 BTC, 30,021 BTC, 25,555 BTC, 24,300 BTC, 19,309 BTC, 15,000 BTC, 12,703 BTC, and 11,776 BTC, respectively, with no new purchases reported over the past week.

Strategy’s Stock Performance and Market Outlook

Strategy’s stock has seen minimal movement this year, with a year-to-date gain of roughly 2%. MSTR hit a high of $455 earlier but now trades slightly above $300. Despite this, Saylor continues his committed approach to acquiring Bitcoin.

MicroStrategy is bleeding 📉$MSTR just hit $300—its lowest level in 6 months.

Painful move for the biggest corporate Bitcoin holder. pic.twitter.com/nChvWmBFbL

— Maartunn (@JA_Maartun) September 29, 2025

Following Strategy’s continued Bitcoin purchases, crypto analyst Benjamin Cowen noted that Bitcoin closed the week above its bull market support band. He compared the current pattern to September 2020, when BTC saw two weeks of gains followed by two weeks of pullbacks, before a strong October rally. Market experts like Mike Novogratz anticipate Bitcoin could reach $200K in this bull run.

Nice weekly close by #BTC to close above the bull market support band.

Kind of similar to 2020, where in September, we had 2 weeks up and then 2 weeks down. pic.twitter.com/1MzIS9VaCk

— Benjamin Cowen (@intocryptoverse) September 29, 2025

Last week, the Strategy executive chairman indicated that Bitcoin is likely to start gaining again toward the end of the year, driven by increasing corporate and institutional demand. Speaking to CNBC’s Closing Bell Overtime, Saylor explained that corporate adoption and steady purchases of Bitcoin by large ETFs for institutional investors are absorbing almost all available supply. He added that “companies that are capitalizing on Bitcoin are buying even more than the natural supply created by miners,” which is putting upward pressure on the price.