Strategy (MSTR), already the world’s largest corporate owner of bitcoin is on track to record its second-largest quarterly accumulation and continues its aggressive treasury expansion even as the cryptocurrency’s price plunged 20%.
Since January, the company has purchased 89,618 BTC, bringing its total holdings to 761,068 BTC. With two Mondays left for potential purchase announcements this quarter, that number could grow even more.
The only time Strategy has bought more bitcoin was in the fourth quarter of 2024, when it added 194,180 BTC. That November alone accounted for three of the company’s five biggest purchases, with Strategy buying 27,200 BTC, 51,780 BTC and 55,500 BTC in quick succession as the price rose to $100,000 from $70,000 following President Donald Trump’s second election victory.
In contrast, the past three months have seen bitcoin’s price fall to a level that is now more than 40% below October’s all-time high of $126,000. Strategy’s common stock is down 15%.
The recent purchases have been partially funded by the sale of the firm’s perennial favorite, Stretch (STRC), which accounted for up to 15,000 BTC over the past two weeks. However, since the STRC price did not reach its $100 par value this week, the company has been unable to use the program for now.
The strategy’s accumulation is not only price dependent. It is driven by capital availability.
