Strategy Expands Bitcoin Holdings with $980M Purchase

Highlights:

• Michael Saylor’s Strategy now holds 671,268 BTC worth around $60 billion.
• The firm bought 10,645 BTC for $980.3 million between Dec. 8 and Dec. 14.
• Strategy sold stock to fund purchases and remains in the Nasdaq-100 index.

Strategy, previously MicroStrategy, has once again expanded its Bitcoin holdings. The company purchased 10,645 BTC at a total cost of about $980.3 million at an average price of $92,098.5 per coin. According to an SEC 8-K filing, this acquisition occurred between December 8 and December 14.

This latest addition places Strategy in possession of 671,268 BTC. The overall treasury cost amounts to about $50.3 billion, while the average price per Bitcoin is $74,972. The holdings are valued at approximately $60 billion at current prices, with an approximate paper gain of about $9.7 billion.

Strategy has acquired 10,645 BTC for ~$980.3 million at ~$92,098 per bitcoin and has achieved BTC Yield of 24.9% YTD 2025. As of 12/14/2025, we hodl 671,268 $BTC acquired for ~$50.33 billion at ~$74,972 per bitcoin. $MSTR $STRC $STRK $STRF $STRD $STRE https://t.co/VdAz7pqce1

— Michael Saylor (@saylor) December 15, 2025

Strategy Uses Equity to Fund Bitcoin Expansion

Michael Saylor had posted an update on the social media platform X. On Sunday, his post noted, “Back to More Orange Dots,” an indication that a new purchase was forthcoming. It is now his usual method of signaling Bitcoin purchases the next day.

Strategy relied on stock sale proceeds to finance this latest acquisition. The company sold 4.78 million MSTR shares and raised $888.2 million. They also issued preferred stock through their ATM programs. These include STRK, STRD, and others.

Strategy raised $82.2 million through the sale of 1.02 million STRD shares. They also sold 7,036 shares of STRK, earning approximately $0.6 million. These sales are included in their 42/42 capital plan of achieving $84 billion by 2027. This plan was increased in size from the previous 21/21 strategy because of increasing demand.

Bitcoin Market Slows, But Strategy Pushes On

A similar purchase was made the previous week by Strategy, whereby they bought 10,624 BTC for $962.7 million. That acquisition was a little smaller than this latest one. These consecutive acquisitions mark the most active buying period in the company since July.

Bitcoin’s price has decreased over the past few weeks. Strategy, despite this, continues to expand its exposure, with a year-to-date Bitcoin yield of 24.79%. The company’s market value has dropped 61% since the summer peaks, yet the company still holds long-term gains. As of Friday, MSTR dropped to $176.45, a decline of 3.7%. Overall, MSTR has declined 41.2% this year. Furthermore, Strategy has a market cap-to-net asset value of 0.85.

Strategy Maintains Nasdaq-100 Position Amid Index Concerns

Michael Saylor’s Strategy has retained its position in the Nasdaq-100 index despite its recent scrutiny. The update was based on the annual rebalancing procedure. This implies that the capital structure of the company is still being recognized in the market.

💥BREAKING:

🇺🇸 STRATEGY REMAINS IN THE NASDAQ 100 INDEX ACCORDING TO REUTERS. pic.twitter.com/GMRZvSWnCU

— Crypto Rover (@cryptorover) December 13, 2025

Meanwhile, Strategy challenged a proposal made by MSCI. The index manager had proposed the removal of companies whose assets exceed 50% in digital holdings. Strategy responded with a 12-page letter requesting MSCI to reconsider. They cautioned that the policy would lead to unstable changes in major indexes.

The letter indicates that Bitcoin treasuries, such as Strategy, would swing in and out of indexes. This might occur when the price of Bitcoin fluctuates or the accounting rules shift. This, Strategy remarked, would cause confusion among both investors and index managers.

MSCI had asserted that major crypto treasury companies become more of a fund rather than an operating business. Critics claim that the 50% cap is arbitrary. They believe that multiple digital asset companies are, in fact, operational. A final decision of MSCI is anticipated by January 15.