Strategy’s Bitcoin stack hits 629k BTC, $26b in profit

Strategy added another 430 Bitcoin last week at $119,666 per coin, bringing its total holdings to 629,376 BTC. With an average purchase price of $73,320, the company now sits on over $26 billion in unrealized profits as Bitcoin’s price hovers near all-time highs.

Summary

• Strategy bought last week 430 BTC for $51.4 million, bringing its holdings to 629,376 BTC worth $72 billion.
• The firm now sits on more than $26 billion in unrealized gains as bitcoin trades near record highs.

According to an August 18 Form 8-K filing with the U.S. Securities and Exchange Commission, Strategy funded its latest 430 Bitcoin (BTC) acquisition entirely through proceeds from preferred stock sales, including $19.3 million from STRK shares, $19.0 million from STRF, and $12.1 million from STRD, while leaving its common stock ATM untouched.

This incremental purchase, though modest compared to earlier buying sprees, reinforces Strategy’s unmatched position as the world’s largest corporate Bitcoin holder. With total holdings of 629,376 BTC, bought for an overall cost of $46.15 billion, the Tysons Corner, Virginia-based firm sits on more than $26 billion in unrealized gains at current market prices.

Strategy’s Bitcoin accumulation: A closer look

The 430 BTC purchased last week marks a noticeable slowdown in Strategy’s once-aggressive buying spree. This acquisition pales in comparison to the 31,466 BTC the company scooped up in a three-week span ending August 3, or even the 17,075 BTC bought throughout June.

The tempered approach comes as Bitcoin experiences heightened volatility, with prices swinging from a record $124,000 last Wednesday to $115,716 at press time after a 3% drop in 24 hours, per crypto.news data.

Alongside the purchase, Strategy adjusted its MSTR Equity ATM (at-the-market) guidance. Now, when its market-to-NAV ratio falls below 2.5x, it will flexibly issue common shares to: pay debt interest, cover preferred dividend obligations, or for other strategic purposes.

This framework, disclosed alongside the Form 8-K, suggests Strategy is preparing for multiple market scenarios while preserving its treasury’s dominance. Notably, the firm still holds $48 billion in untapped ATM capacity across its preferred and common stock programs, a war chest that could deploy rapidly if conditions align.