TLDR
- Strategy now holds 629,376 BTC, nearly 3% of Bitcoin’s total supply.
- The company bought 430 BTC at an average price of $119,666 each.
- Strategy used $50M+ from stock sales to fund the latest Bitcoin buy.
- MSTR stock is down over 8% in five days as Bitcoin also declines.
Michael Saylor’s firm, Strategy, has added 430 more Bitcoin to its holdings. This marks its third straight weekly purchase, even as both Bitcoin and Strategy’s stock, MSTR, have continued to fall in value.
The latest acquisition brings the company’s total Bitcoin holdings to over 629,000 BTC. The decision to increase its position comes during a broader market correction, with Bitcoin prices falling below $115,000 and MSTR stock down more than 2% in premarket trading.
Strategy Buys More Bitcoin Amid Market Decline
Strategy, formerly known as MicroStrategy, has acquired 430 Bitcoin between August 11 and August 17. The total value of the purchase is $51.4 million. According to the company, the average price paid per Bitcoin in this round was $119,666.
As disclosed in its recent filing with the U.S. Securities and Exchange Commission (SEC), the firm now holds 629,376 BTC. This accounts for nearly 3% of Bitcoin’s total supply. The total cost of its entire Bitcoin position is $46.15 million, with an average purchase price of $73,320 per coin.
Strategy has acquired 430 BTC for ~$51.4 million at ~$119,666 per bitcoin and has achieved BTC Yield of 25.1% YTD 2025. As of 8/17/2025, we hodl 629,376 $BTC acquired for ~$46.15 billion at ~$73,320 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/FLRjCKDMQO
— Michael Saylor (@saylor) August 18, 2025
The company funded the latest acquisition using proceeds from the sale of its own shares. Strategy raised $19.3 million from STRK shares, $19 million from STRF shares, and $12.1 million from STRD shares.
Stock Sale Supports Ongoing Bitcoin Strategy
The SEC filing shows that Strategy is continuing to use equity as a tool to expand its Bitcoin holdings. This is in line with its long-standing treasury reserve strategy.
Michael Saylor, the firm’s co-founder and executive chairman, hinted at the purchase with a Sunday post on X, writing, “Insufficient Orange.” The phrase has become a common signal for the company’s Bitcoin acquisitions.
Insufficient Orange pic.twitter.com/QcRT0RTzEg
— Michael Saylor (@saylor) August 17, 2025
This is the third week in a row that Strategy has purchased Bitcoin. Just a week earlier, it bought 155 BTC for $18 million. These continuous buys show that the company is maintaining its plan despite short-term price movements.
Strategy Updates Guidance for Future Stock Issuance
Alongside the Bitcoin purchase, the firm also updated its At-The-Market (ATM) stock sale program. The new guidance gives it more room to respond to market conditions when issuing new shares.
Under this plan, Strategy will issue new MSTR shares more actively when the market value to net asset value (mNAV) ratio is above 4.0x. If the mNAV is between 2.5x and 4.0x, it will issue shares when market conditions are favorable.
The firm also said it will use capital to pay debt or fund preferred dividends when the mNAV falls below 2.5x. If the ratio drops below 1.0x, the company may use credit to repurchase its own shares.
Bitcoin and MSTR See Continued Price Pullback
The latest purchase occurred while both Bitcoin and MSTR stock prices have been declining. Over the past seven days, Bitcoin has dropped by nearly 5%. It has fallen below the $115,000 mark, a level closely watched by traders.
MSTR shares have also seen pressure. According to data from TradingView, the stock has dropped over 2% since last week’s close. It is now trading around $358, down from $366 just a few days ago.
The stock has also fallen more than 8% over the last five trading days. This drop follows news that investment firm Vanguard reduced its stake in Strategy by 10%, which added to market concerns.
Still, both assets remain up over the year. MSTR stock is up 22% year-to-date and 174% over the past 12 months. Bitcoin has also risen by 22% since the start of the year, despite recent pullbacks.
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