Overview

• Strategy holds about 640,250 BTC—roughly 2.5% of supply—valued near $69–$71 billion at recent prices, with an average cost of approximately $74,000 per coin.
• Strategy’s market‑to‑NAV has slid to around 1.30x on a diluted basis, a year‑low that curbs accretive equity issuance and raises dilution concerns for new share sales.
• Michael Saylor said the company can convert $50–$100 million per hour into Bitcoin and as much as $1 billion in a single day, underscoring rapid deployment capability.
• Futures data showed ~$81.08 billion in volume with only a slight open‑interest uptick to ~$69.1 billion, pointing to active short positioning even as BTC rebounded to about $111,000.
• The firm’s last disclosed add was roughly 220 BTC purchased during Oct. 6–12, and Saylor outlined details of the STRC perpetual preferred paying a 10.25% variable monthly dividend backed by over‑collateralized Bitcoin.