Strategy (NASDAQ: MSTR), the world’s largest corporate holder of bitcoin, expanded its treasury once again last week, purchasing 168 BTC for $18.8 million at an average price of $112,051 per coin, according to a new filing from the U.S. Securities and Exchange Commission.
Following the purchase, Strategy now owns 640,418 BTC, acquired at a total cost of approximately $47.40 billion, reflecting an average purchase price of $74,010 per bitcoin.
The company also reported a 26% year-to-date bitcoin return by 2025, underscoring the strength of its BTC-denominated balance sheet amid renewed institutional interest.
In recent years, Strategy has grown from a business intelligence company to become the largest corporate holder of Bitcoin in the world.
CEO Michael Saylor has defended Bitcoin as a superior treasury reserve asset, arguing that it offers a hedge against inflation and currency debasement, and has financed acquisitions through equity and convertible debt offerings.
Bitcoin Price Rebounds as Strategy Remains Consistent
Bitcoin price climbed back to around $111,000 today after falling into the $104,000 range last week, as renewed corporate accumulation and optimism over a possible end to the US government shutdown lifted market sentiment.
Corporate Bitcoin treasuries and mining companies have become major forces in this cycle, with companies like MicroStrategy and MetaPlanet driving institutional adoption. Collectively, these hoards held over 1 million BTC, representing over 5% of the circulating Bitcoin supply.
Despite this buildup, some corporate stocks began to lag behind Bitcoin price performance.
MicroStrategy shares, in particular, fell relative to BTC, bringing its NAV premium closer to parity, according to data from Bitcoin Magazine Pro.
The Bitcoin Fear & Greed Index now shows the market in a “fear” state, reflecting a cautious sentiment as traders move away from risk and liquidity declines. These conditions often align with oversold markets and have historically sometimes preceded local lows, although the exact timing remains uncertain amid ongoing volatility.
Just two weeks ago, when Bitcoin was trading above $124,000, the index registered 70, or “greed,” underscoring the sharp shift in market sentiment.
Meanwhile, gold has risen to record levels of $4,328 an ounce, extending its strong outperformance against Bitcoin so far this year.
Separately, OranjeBTC announced that it purchased 10 BTC for approximately $1.09 million at an average price of $108,786 per bitcoin, bringing its total holdings to 3,701 BTC worth approximately $390 million. The company’s bitcoin performance stands at 1.7% so far this year.
The Brazilian firm recently went public on B3, the main exchange in São Paulo, becoming the largest corporate holder of Bitcoin in Latin America.
The company follows a strategy-like model, raising capital through convertible debt to acquire Bitcoin. Earlier this year, it secured a $210 million investment from Itaú BBA, Brazil’s largest bank, and attracted major backers including the Winklevoss twins, Ricardo Salinas, FalconX, Adam Back and US funds Off the Chain Capital and ParaFi Capital.