- Strategy expands balance sheet as BTC holdings hit 673,783 while cash rises to $2.25B.
- January purchases lifted the average BTC cost to $75,026 while funded through ATM equity sales.
- Rising USD reserves signal liquidity focus despite large unrealized crypto losses.
Strategy opened 2026 by expanding both sides of its balance sheet, increasing bitcoin holdings, and strengthening cash reserves. According to a January 5 filing with the U.S. Securities and Exchange Commission, the company added 1,287 BTC and lifted its U.S. dollar reserve to $2.25 billion.
Consequently, total bitcoin holdings reached 673,783 BTC, representing one of the largest corporate treasuries globally. The purchases occurred between December 29 and January 4 and cost roughly $116 million.
Strategy funded the acquisitions entirely through at-the-market sales of its Class A common stock. Besides expanding crypto exposure, the company also increased its USD reserve by $62 million during the same period.
Bitcoin Accumulation Continues Into January
The January buying followed a small purchase late in December. Strategy paid an average of about $90,391 per bitcoin for the January tranche. As a result, the firm’s average purchase price across all holdings rose modestly to roughly $75,026 per BTC.
Moreover, aggregate spending on bitcoin since Strategy adopted its treasury strategy climbed to about $50.6 billion, including fees. At current market prices, the holdings carry significant unrealized gains.
However, management continued to frame bitcoin as a long-term reserve asset rather than a short-term trade. The company executed the purchases during early January, reinforcing its pattern of acting quickly at the start of reporting periods.
ATM Sales and Balance Sheet Positioning
Additionally, Strategy relied on equity issuance to finance its latest moves. Between December 29 and January 4, the firm sold nearly two million MSTR shares for more than $312 million.
After these sales, over $11 billion in Class A shares remain available under the ATM program. No preferred shares were sold during this window, leaving more than $41 billion in capacity across those programs.
However, the company also highlighted recent financial pressures. Strategy reported sizable unrealized digital asset losses for 2025, alongside related deferred tax benefits.
Despite these figures, management emphasized liquidity. Hence, the expanded USD reserve aims to cover preferred dividends and interest obligations, providing flexibility during volatile market conditions.
Looking ahead, market watchers question whether Strategy could surpass its 2025 buying pace. Early January activity suggests the possibility remains open.
Related: Saylor Signals Fresh BTC Buys with “Orange Dots” as Strategy Defends Nasdaq 100 Spot
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Source: https://coinedition.com/strategy-expands-bitcoin-holdings-to-673783-btc-as-usd-reserve-reaches-2-25-billion/
