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Strategy Adds 850 Bitcoin in $100 Million Buy, Lifts Treasury to 639,835 BTC

The purchase was financed mostly through at-the-market stock sales with ample issuance capacity remaining.

Overview

  • An SEC Form 8-K on Sep. 22 disclosed the purchase of 850 BTC between Sept. 15 and 21 for about $99.7 million at an average of roughly $117,344 per coin.
  • Strategy now holds 639,835 BTC acquired for approximately $47.33 billion, implying an average cost basis of about $73,971 per bitcoin.
  • Funding came via at-the-market equity programs, including $80.6 million from 227,401 MSTR shares and $19.4 million from 173,834 STRF preferred shares, or roughly 80% from common stock.
  • The company reported a 26.0% year-to-date bitcoin yield for 2025.
  • MSTR shares fell on the disclosure, while the company retains roughly $16 billion of remaining common ATM capacity and more than $30 billion across preferred offerings.