Michael Saylor’s Strategy Reaches $74B in Bitcoin with Fresh 390 BTC Purchase

Highlights:

• Michael Saylor’s strategy now holds 640,808 BTC, worth approximately $74 billion.
• The company used equity sales instead of debt to fund new BTC acquisitions.
• Strategy’s BTC holdings represent over 3% of Bitcoin’s total circulating supply.

Strategy, led by Michael Saylor, has once again expanded its Bitcoin treasury by purchasing 390 BTC at an approximate cost of $43.4 million between October 20 and 26. Each coin costs roughly $111,117 as per the SEC filing. Through this move, Strategy currently owns 640,808 BTC valued at more than $72 billion. The total cost basis stands at $47.44 billion, and the average purchase price is $74,032 per Bitcoin.

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This acquisition augments the continuous stockpile of Strategy since 2020. The company has already finalized more than 80 different acquisitions, creating one of the largest corporate Bitcoin treasuries in the world. The holdings currently constitute over 3% of the total shares of Bitcoin, a controlling figure that is unrivaled by any other publicly traded company.

Strategy has acquired 390 BTC for ~$43.4 million at ~$111,053 per bitcoin and has achieved BTC Yield of 26.0% YTD 2025. As of 10/26/2025, we hodl 640,808 $BTC acquired for ~$47.44 billion at ~$74,032 per bitcoin. $MSTR $STRC $STRK $STRF $STRDhttps://t.co/Ipb8nYX4w4

— Strategy (@Strategy) October 27, 2025

Funding Through At-The-Market Programs

Strategy financed the latest Bitcoin purchase through a number of At-The-Market equity programs. The filing reported the sale of preferred shares under the STRK, STRF, and STRD series, raising $43.4 million. This will enable the firm to gain capital without incurring new debt.

Michael Saylor’s Strategy mainly depends on their ATM services to grow in the long term. These schemes have a potential issuance capacity of more than 46B. The company has the flexibility to keep on buying Bitcoin even during market downturns. This approach aligns with the idea of Saylor, who believes in equity, rather than leverage, to create a strong digital reserve.

The company sold more than 191,000 shares of STRK worth $17 million and 175,000 shares of STRF worth $19.4 million last week. It also sold 87,000 shares of STRD at a price of $7 million. The remaining potential in these programs provides Strategy with space to increase its treasury when opportunities in the market emerge.

Saylor’s Conviction and Market Influence

Michael Saylor’s Strategy remains to dominate headlines with its first Bitcoin strategy. His post on X, “It’s orange dot day,” on October 26, suggested a new acquisition again. Each such phrase has historically been followed by a Bitcoin purchase, which makes it a call to investors.

It's Orange Dot Day. pic.twitter.com/5FSGmxwoNS

— Michael Saylor (@saylor) October 26, 2025

Saylor considers Bitcoin a digital asset and a superior treasury store. Even with volatility, he is sure of its potential in the long term. It is under his leadership that Strategy became the largest corporate holder of Bitcoin in the world, and it is shaping institutional adoption in the market.

This belief has made Strategy stock a form of proxy bitcoin exposure. Although the company’s stock is down 37% since the summer, its gains that remain unrealized are over $24 billion. The current mNAV ratio of the company is approximately 1.1, indicating near par value to its Bitcoin positions.

Institutional Expansion and Future Outlook

The interest in Bitcoin among institutions is increasing. Recently, American Bitcoin Corp., co-founded by Eric Trump, bought 1,414 BTC and now has a total of 3,865 BTC. In the meantime, Bitplanet launched its Bitcoin treasury by buying 92.67 BTC for $10.9 million. These moves indicate a broader shift in corporations towards digital reserve plans.

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