Strategy Adds 10,624 BTC as Metaplanet Adopts Its Model
Strategy expands its Bitcoin reserves with nearly $1 billion purchase as Metaplanet adopts a similar treasury model, signaling rising institutional interest.
Strategy has deepened its position as the world’s largest corporate holder of Bitcoin, adding another major tranche of BTC even as its stock continues to fluctuate. The company, led by chairman Michael Saylor, remains unwavering in its conviction, and its Bitcoin-first approach is now being echoed by Metaplanet, which has begun adopting a similar treasury strategy.
Strategy Adds 10,624 BTC in Latest Multimillion-Dollar Purchase
Saylor revealed on X on Dec. 8 that Strategy purchased 10,624 BTC for approximately $962.7 million, paying an average of $90,615 per coin during the previous week. The acquisition raises the firm’s total Bitcoin holdings to 660,624 BTC, accumulated at a combined cost of roughly $49.35 billion with an average entry price of $74,696.
The purchase came during a difficult period for Strategy’s stock, which has been under pressure for months. According to Google Finance, shares recently traded around $184, marking a steep 50% decline over the past 12 months. Despite the equity slide, Strategy’s Bitcoin position remains deeply profitable. Estimates from BitcoinTreasuries.net place the value of the company’s holdings at roughly $60 billion, more than 20% above its aggregate cost basis.
How Strategy Financed Its Latest Bitcoin Buy
Strategy funded the entire Bitcoin purchase through proceeds from its ongoing at-the-market (ATM) equity offering program. According to a new SEC filing, the company generated $963 million in net proceeds between Dec. 1–7 by selling:
- 442,536 shares of STRD preferred stock, and
- 5.13 million shares of MSTR common stock
The filing confirms that all BTC acquired during the period was paid for directly using ATM proceeds — continuing a financing model that has become a central component of Strategy’s Bitcoin accumulation strategy.
Saylor Courts Global Wealth Funds With “Digital Capital” Message
Alongside the latest purchase, Saylor has accelerated his advocacy for Bitcoin as a transformative monetary asset. Speaking at the Bitcoin MENA conference in Abu Dhabi, he detailed his discussions with sovereign wealth funds, banking executives, and family offices.
“My message by the way is very straightforward. My message is: We now have digital capital. Bitcoin is digital capital. It’s digital gold,”
— Michael Saylor, Strategy chairman
He added that a new layer of financial instruments is emerging above Bitcoin itself.
“On top of digital capital, we have a new asset class called digital credit. Digital credit strips the volatility from the capital and provides yield.”
Even as Strategy’s stock price heads lower, Saylor continues publicly reaffirming the company’s long-term Bitcoin vision, recently stating on social media that Strategy “won’t back down” from its BTC commitment.
Addressing FUD With a $1.44 Billion Capital Cushion
Earlier, Strategy raised $1.44 billion to counter rising fear, uncertainty, and doubt (FUD) surrounding its leverage and dividend obligations. CEO Phong Le said some investors questioned whether the company would be able to service its financial commitments if the stock price declined too aggressively.
“There was FUD that was put out there that we wouldn’t be able to meet our dividend obligations, which causes people to pile into a short Bitcoin bet,”
— Phong Le, Strategy CEO
The additional capital helped stabilize confidence in Strategy’s balance sheet and reinforced the view that the company intends to remain an aggressive Bitcoin accumulator regardless of market conditions.
DAT Inflows Slow Sharply in November
Strategy’s latest buy comes at a time when the broader digital asset treasury (DAT) landscape is cooling. According to DefiLlama, corporate and institutional DAT programs recorded $1.32 billion in inflows during November, marking a 34% decline from October and the lowest monthly total in 2025.
The slowdown, however, was less pronounced in Bitcoin-focused DATs, which attracted more than $1 billion in inflows — largely boosted by Strategy’s $835 million purchase on Nov. 17. Ether-focused DATs saw the opposite trend, flipping negative with $37 million in outflows for the month.
Metaplanet Prepares “MARS” Structure Inspired by Strategy’s Model
While Strategy continues pioneering Bitcoin-based corporate finance, it is also inspiring others. Tokyo-listed Metaplanet announced plans to launch a new capital instrument modeled directly on Strategy’s preferred-share structure, which has become one of the most closely watched treasury-financing tools in the crypto sector.
Metaplanet CEO Simon Gerovich confirmed the initiative during the Bitcoin for Corporations Symposium, where he appeared alongside Michael Saylor. He said shareholders will vote later this month on approving a new preferred-share mechanism called MARS, short for MetaPlanet Acquisition and Reserve Strategy.
According to Gerovich, MARS is designed specifically to raise capital earmarked for expanding the company’s Bitcoin holdings — just as Strategy’s own STRC preferred stock does.
Growing Corporate BTC Treasuries Signal a Broader Shift
Interest from global companies continues to climb. According to CryptoPulseNews’ Crypto Treasury Tracker, Metaplanet currently ranks 4th among public companies with 30,823 BTC on its balance sheet. It sits behind Twenty One Capital in 3rd place and MARA Holdings in 2nd, while Strategy maintains a commanding lead in the top position.
The expanding adoption of Bitcoin-focused treasury strategies reflects a broader shift in how companies view cash reserves, capital efficiency, and long-term monetary hedging. As more firms begin to explore custom instruments like STRD, STRC, and the upcoming MARS preferred shares, Strategy’s model appears to be becoming a template for Bitcoin-native corporate finance.
A Reinforced Commitment to Bitcoin’s Future
Strategy’s latest billion-dollar purchase underscores the company’s unwavering strategy: continue acquiring Bitcoin at scale regardless of market cycles, equity performance, or macro pressures. Even as digital asset treasury inflows slow, and despite a 50% slide in Strategy’s stock price, the firm remains committed to a thesis built on the long-term monetization of digital assets.
Saylor’s message to institutional investors — that Bitcoin represents a new category of “digital capital” — appears to be gaining traction globally. With companies like Metaplanet preparing their own Strategy-style financing tools, Bitcoin’s role in corporate treasuries may be entering a new acceleration phase, shaped by the same playbook that Strategy continues to refine.
