MicroStrategy Boosts Bitcoin Holdings to 673,783 BTC

Strategy has started the new year with a significant acquisition of Bitcoin. The firm purchased 1,286 BTC for approximately $116 million between December 29, 2025, and January 4, 2026. This transaction was disclosed in a filing with the U.S. Securities and Exchange Commission.

The purchase brings the company's total Bitcoin holdings to 673,783 BTC. At current prices, this portfolio is valued at roughly $62.7 billion. The acquisition was funded through the sale of nearly 2 million shares of Class A stock, generating $312.2 million in net proceeds. The firm also increased its U.S. dollar reserve to $2.25 billion to manage financial obligations.

The recent purchase was executed at an average price of $90,391 per Bitcoin. A small portion of the acquisition—3 BTC—was purchased in the final days of 2025 at an average price of $88,210 each. Strategy’s overall Bitcoin portfolio has been accumulated at an average cost basis of $75,026 per coin, resulting in total expenditures of $50.55 billion.

In conjunction with the Bitcoin purchase, the firm increased its U.S. dollar reserve from $1.44 billion in December to $2.25 billion. This liquidity is intended to support dividend payments on preferred shares and interest obligations on outstanding debt. The company utilizes this reserve to bolster its financial footing amid market swings, aiming to ensure operational continuity and investor confidence.

Despite the gains made in early 2026, the company reported an unrealized loss on its digital assets for the fourth quarter of 2025. The loss, totaling $17.44 billion, is largely attributed to Bitcoin sliding from its October high of $126,000. Bitcoin's price surpassed $90,000 at the start of the year, buoyed by geopolitical tensions and market optimism, and was trading near $93,000 on Monday.

Strategy faces ongoing challenges regarding its inclusion in major market indices. Morgan Stanley Capital International (MSCI) proposed last October that companies with 50% or more of assets in digital currencies may be excluded from global indices, classifying them as resembling investment funds. A potential MSCI delisting could trigger $2.8 billion in stock outflows, with further impacts possible across the Nasdaq 100 and Russell benchmarks.

Analysts from JPMorgan and TD Cowen estimate that exclusion from these indices could threaten billions in additional market value. In December, Strategy submitted a formal response to MSCI’s consultation, calling the threshold "misguided" and warning of "profoundly harmful consequences" for investors and the digital asset industry. In a statement on X, Executive Chairman Michael Saylor emphasized that the company is "not a fund, not a trust, and not a holding company," describing it instead as a publicly traded operating company with a unique treasury strategy.

Michael Saylor signaled the recent purchase on Sunday via X, posting the firm’s Bitcoin portfolio with the caption, "Orange or Green?" This weekly acquisition pattern has become a hallmark of Strategy’s approach to building its Bitcoin holdings over time.

Strategy’s aggressive accumulation of Bitcoin has influenced other publicly traded firms. Metaplanet, a Tokyo-listed company, has become the fourth-largest corporate holder of Bitcoin, possessing 35,102 coins valued at roughly $3.27 billion. Strategy’s use of stock sales to fund Bitcoin purchases illustrates a carefully managed, albeit high-risk, strategy of maintaining liquidity while expanding its digital asset holdings.

The company continues to navigate market volatility while maintaining its Bitcoin-first treasury model. As of the latest reports, Bitcoin is trading below $92,000. Strategy remains focused on using its reserve to ensure operational continuity and maintain investor confidence despite the potential exclusion from major financial indices.