Catenaa, Saturday, September 27, 2025- Shares of Strategy, the leading Bitcoin treasury firm, fell 1.4% Monday after the company announced it purchased 850 BTC for roughly $100 million, raising its total holdings to 635,893 BTC valued at about $72.25 billion.
The acquisition, executed at an average price of $117,344 per Bitcoin, was funded using approximately $19 million from the company’s STRF preferred stock offering and over $80 million from its existing $21 billion common stock offering.
Strategy continues to use at-the-market offerings to acquire Bitcoin, maintaining flexibility to expand its treasury through multiple stock issuance programs.
Over the past month, Strategy shares have dropped 5.2%, underperforming Bitcoin’s 1.6% decline.
Analysts at TD Cowen, however, maintained a buy rating, citing the stock’s undervaluation relative to Bitcoin and potential catalysts such as an S&P 500 inclusion and increased mainstream adoption of digital assets.
The firm set a price target of $620, representing an 83% potential upside from current levels.
Strategy began building its Bitcoin treasury in 2020 and now holds more than ten times the BTC of the next largest corporate holder, MARA. Its five distinct stock offerings allow investors across risk profiles to gain exposure to the cryptocurrency while supporting the firm’s treasury accumulation strategy.
As Bitcoin treasury acquisitions gain traction across public markets, other firms like AgriFORCE and Avalanche-backed companies are pursuing similar strategies, signaling continued investor interest in corporate Bitcoin holdings.
