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Tanzeel Akhtar
Journalist
Tanzeel Akhtar
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Strategy, the software-intelligence company led by billionaire executive chairman Michael Saylor, has once again expanded its ownership of Bitcoin.
According to a company deposit dated November 3, Strategy purchased 397 BTC between October 27 and November 2 for a total of $45.6 million in cash, paying an average price of $114,771 per coin.
The purchase brings the company’s total Bitcoin stash to 641,205 BTC, accumulated at an average purchase price of $74,057 per BTC, representing a combined investment of $47.49 billion.
Strategy said that the new bitcoins were acquired using the proceeds of its active equity programs at the market (ATM), a mechanism that the company invoked throughout 2025 to finance the continued accumulation of Bitcoin.
Funding Bitcoin Buys
The filing shows that the Strategy raised about $69.5 million in net proceeds during the one-week period in multiple issuances of preferred and common stock.
These include proceeds generated from the sale of Series A perpetual preferred stock and Class A common stock. The company continues to hold more than $46 billion in available capacity under its ATM programs, giving it the flexibility to continue raising capital for future purchases.
The document details that $8.4 million came from the sale of STRF shares, $4.4 million from STRK shares, $2.3 million from STRD shares, and $54.4 million from MSTR common shares.
The proceeds of all these programs were directed specifically towards the purchase of Bitcoin, submitted Saylor’s emphasis on the conversion of capital in what it sees as the world’s most reliable value store.
Long term conviction
Since adopting Bitcoin as its primary treasury reserve asset in 2020, the Strategy has been one of the most aggressive corporate buyers in the market.
Saylor’s thesis is that Bitcoin functions as a digital form of gold – a prized monetary network that retains value over time better than cash or bonds. His strategy faced skepticism during bear market drawdowns, but delivered large unrealized gains during price rallies.
Strategy shares now exceed those of any other publicly traded company and most sovereign wealth funds. At current market prices, the company’s Bitcoin reserves are valued at around $45 billion, cementing its position as the largest corporate holder of the cryptocurrency.
No Sign Of Slowing Down
The steady pace of the company’s weekly purchases demonstrates Saylor’s unwavering commitment to Bitcoin accumulation regardless of market conditions. He has often stated that every dollar raised will eventually be converted into BTC. With substantial ATM capacity remaining and Bitcoin trading near record highs, Strategy shows no indication of easing its buying strategy.
If the company maintains this pace, its Bitcoin holdings could soon exceed 650,000 BTC, further solidifying its status as the most influential corporate participant in the Bitcoin ecosystem.
