Strategy Acquires $2.13B in Bitcoin, Boosting Holdings

Strategy has significantly expanded its cryptocurrency portfolio with a multi-billion dollar acquisition. The company, led by executive chairman Michael Saylor, purchased 22,305 Bitcoin over the past week.

The transaction, valued at approximately $2.13 billion, represents a strategic move to convert traditional financial assets into digital currency exposure. This purchase brings the firm's total Bitcoin holdings to just under 710,000 coins.

The latest purchase was executed at an average price of roughly $95,284 per Bitcoin. This entry point was approximately 4% higher than the market price at the time of the acquisition. The timing and scale of the purchase highlight the company's aggressive accumulation strategy.

As of January 19, 2026, Strategy's total Bitcoin treasury stands at 709,715 BTC. The total cost basis for these holdings is approximately $53.92 billion, calculated at an average price of $75,979 per coin.

This transaction marks several milestones for the firm:

• It is the largest weekly Bitcoin acquisition since November 2024.
• It ranks as the company's fifth-largest Bitcoin purchase announcement to date.
• The firm now controls over 3% of Bitcoin's total circulating supply.

The $2.13 billion acquisition was funded entirely through capital markets activity. Between January 12 and January 19, the company raised approximately $2.125 billion in net proceeds via its at-the-market (ATM) programs.

The funding mix was diverse, relying on the issuance of both common and preferred stock:

• 10.4 million shares of Class A common stock generated roughly $1.83 billion.
• 2.95 million shares of the perpetual preferred equity, Stretch (STRC), raised an additional $294.3 million.
• Smaller amounts were generated through STRK preferred stock issuance.

Notably, no shares were issued under the STRF or STRD programs during this specific period. This approach allows Strategy to continuously convert equity into Bitcoin exposure without depleting its cash reserves.

Despite the massive acquisition, Strategy's stock faced immediate market pressure. Shares fell approximately 5% in early trading as Bitcoin prices dipped below $91,000. This pullback mirrored a broader sell-off across the cryptocurrency market, which followed a rally that saw BTC trade above $94,000 late last week.

However, the company recently received positive regulatory news. Earlier this month, MSCI concluded a review of digital asset treasury companies and decided not to exclude them from major global equity indexes. Bitcoin-heavy firms will remain eligible under existing rules while MSCI conducts further research.

The decision eased months of market anxiety after MSCI had proposed reclassifying companies with more than 50% of assets in digital assets as fund-like and therefore ineligible for inclusion.

Strategy, along with industry groups, had pushed back against the proposed changes, warning that exclusions could trigger billions of dollars in forced passive selling.

Strategy's balance sheet strategy extends beyond just accumulating Bitcoin. Several weeks ago, the company announced it was increasing its U.S. dollar reserve to $2.25 billion, up from $1.44 billion in December.

This liquidity buffer serves a specific purpose: supporting dividend payments on preferred shares and meeting interest obligations on outstanding debt. By maintaining a robust cash position, the firm ensures it can meet its traditional financial commitments while pursuing its aggressive Bitcoin accumulation strategy.

The company continues to operate as the world's largest publicly traded corporate holder of Bitcoin. Its near-weekly acquisition schedule demonstrates a sustained commitment to the digital asset as a primary treasury reserve component.

Strategy's latest acquisition reinforces its position as the dominant institutional holder of Bitcoin. With over 709,000 BTC on its balance sheet, the company's performance is now intrinsically linked to the cryptocurrency's market movements.

Investors will be watching closely to see if the company continues its near-weekly purchasing cadence. The recent MSCI ruling provides a stable regulatory environment, removing a significant overhang that had threatened institutional adoption of Bitcoin-heavy treasury strategies.

As the market digests this massive purchase, the interplay between Bitcoin's price volatility and Strategy's equity valuation will remain a key dynamic to monitor in the coming weeks.