Catenaa, Wednesday, December 31, 2025-Strategy, Michael Saylor’s bitcoin treasury company, purchased 1,229 bitcoin last week, spending about $108.8 million at an average price of roughly $88,568 per coin, the company said Monday.
The acquisitions were funded through sales of Strategy’s Class A common stock under its at-the-market program, which generated $108.8 million in net proceeds. The purchases mark a resumption of bitcoin accumulation following a brief pause during which Strategy added cash to its USD reserve, now totaling $2.19 billion to support dividend and debt obligations.
With the latest buy, Strategy’s total holdings rise to 672,497 bitcoin, acquired at an average cost of $74,997 each. At bitcoin prices near $87,300, the treasury is valued at approximately $58.7 billion, representing a paper gain of more than $8 billion.
Analyst views diverge on the strategy. TD Securities said the USD reserve strengthens the company’s resilience during prolonged crypto market weakness, maintaining a buy rating with a $500 target. Others, including CryptoQuant and JPMorgan, suggested the reserve indicates preparation for a potential deep drawdown and emphasized that Strategy’s ability to hold bitcoin through volatility may matter more for market stability than miner activity.
Investors are also watching whether MSCI will exclude Strategy from equity indices due to its high bitcoin allocation. A decision is expected by Jan. 15 ahead of February index rebalancing. The company previously urged MSCI to reconsider, warning that exclusion could destabilize indices and conflict with US digital asset policy efforts.
