Strategy, the Nasdaq-listed analytics firm that has become the largest corporate owner of bitcoin, lifted its treasury to a record 850,364 coins after buying another 1,037 BTC for roughly $82 million, Chairman Michael Saylor said Monday.
The purchase, disclosed in a post on X dated Nov. 8, extends an acquisition campaign that has continued even as digital-asset prices slid. Bitcoin traded below $74,000 earlier Monday and was changing hands near $74,800, leaving the company's average acquisition cost of $75,456 per coin slightly above the market price. Strategy has spent about $64.14 billion in total on its stack.
Saylor's post also said the company repurchased $188 million of its STRC preferred stock and held $4.9 billion in dollar-denominated assets as of Nov. 8. STRC closed at $99.80 on Friday, recovering from a summertime slump even as a broad Wall Street selloff erased about $3 trillion from the S&P 500 on Thursday.
The disclosure resolves speculation that built over the weekend, when Saylor published a chart of Strategy's bitcoin transactions and average cost under the caption "Connecting the dots" without giving a purchase size. The company typically confirms treasury activity through securities filings such as Form 8-K, and investors had been waiting for that formal disclosure before treating the post as confirmation of a completed deal.
The new buy follows a quieter stretch. Strategy sat out several weeks in October before returning in early November with a purchase of 810 BTC for $65.5 million, funded partly by selling 1,178,552 MSTR shares through an at-the-market program that raised $164 million in net proceeds. The remainder went into the company's dollar reserves, which stood at $4.79 billion on Nov. 1 alongside $132.7 million in separate cash.
The latest tranche is a fraction of the record purchase Strategy announced about two weeks earlier, when it bought 6,182 BTC for more than $511 million. The drop-off in size since then marks a sharp deceleration in a pace that had made the company a bellwether for corporate crypto adoption.
Note: Prior-period figures reflect disclosures covering Oct. 26 to Nov. 1.
Separately, Strive Chief Executive Matt Cole said his company bought 29 BTC for $2.2 million at an average of $75,721 per coin, bringing its total to 43,153 BTC.
Strategy's willingness to keep buying into weakness is the central question for investors who use the company as a proxy for bitcoin exposure. Because its blended cost sits just above the spot price, further declines would push the treasury into an unrealized loss, while a rebound would quickly restore the cushion. The company's ability to keep funding purchases through equity sales depends on MSTR holding its premium, and the $4.9 billion reserve gives it room to keep buying without tapping preferred stock.
For the broader market, the disclosure offers a data point on whether corporate treasuries treat the latest drawdown as an entry point. Strategy's answer so far has been yes, though at a much smaller scale than its record autumn purchase.
