Strategy Marks 100th Bitcoin Purchase
The firm’s latest $40M acquisition pushes its holdings above 717,000 BTC as its long-term accumulation strategy continues.
Strategy has marked a milestone in its ongoing Bitcoin accumulation campaign, purchasing 592 BTC for approximately $39.8 million between Feb. 17 and Feb. 22, according to a filing with the US Securities and Exchange Commission dated Feb. 23. The transaction represents the company’s 100th Bitcoin purchase since adopting its treasury strategy in August 2020.
The latest addition lifts Strategy’s total Bitcoin reserves to 717,722 BTC, acquired at an aggregate cost of $54.56 billion. The newly acquired coins were bought at an average price of $67,286 per BTC, including fees and related expenses.
Considering Bitcoin’s fixed 21 million supply cap, Strategy now controls more than 3.41% of all BTC ever to exist. Despite its massive holdings, the position currently reflects roughly $7.1 billion in unrealized losses, highlighting the volatility tied to its long-term bet on the digital asset.
Equity-Funded Purchases Continue
The company financed the acquisition through its at-the-market (ATM) stock offering program. Between Feb. 17 and Feb. 22, Strategy sold 297,940 shares of its Class A common stock, generating net proceeds of about $39.7 million.
According to the filing, the firm did not sell any preferred stock under its ATM programs during this period. Strategy has consistently relied on equity issuance and capital markets to support its Bitcoin purchases, maintaining a structured and repeatable funding approach.
The move extends a pattern of weekly acquisitions in 2026, even as Bitcoin trades below the company’s overall average purchase price of $76,020 per coin.
Strategy began accumulating Bitcoin in August 2020 with an initial $250 million allocation, and has since steadily expanded its reserves through multiple market cycles. Today, the company stands as the largest publicly traded corporate holder of Bitcoin by a wide margin.
A Milestone Nearly Six Years in the Making
Executive chairman Michael Saylor hinted at the landmark purchase ahead of the official announcement in a post on X, sharing a chart of previous acquisitions alongside the caption: “The Orange Century.”
The phrase reflects Saylor’s long-term conviction in Bitcoin’s role as a transformative monetary asset.
With its balance sheet now holding 717,722 BTC worth about $47.5 billion at current prices, Strategy remains deeply tied to Bitcoin’s performance and trajectory. The cryptocurrency sits at the core of the company’s capital structure, strategy, and corporate identity.
In a recent interview with Fox Business, Saylor acknowledged the market is experiencing a downturn but described it as less severe than previous cycles and suggested conditions are positioning for recovery. He pointed to stronger institutional participation, growing banking sector support, continued capital inflows, and ongoing technological progress across the digital asset ecosystem as key factors underpinning long-term optimism.
In a separate Feb. 20 post on X, Saylor reiterated his bullish outlook:
“If it’s not going to zero, it’s going to a million,”
underscoring his belief in Bitcoin’s asymmetric long-term potential.
Corporate Bitcoin Treasuries Expand
Strategy’s aggressive accumulation has influenced a growing number of public companies exploring crypto treasury strategies. Data from CryptoPulse.News’ Crypto Treasury Tracker shows the firm’s holdings far exceed those of other major corporate Bitcoin holders, including MARA Holdings, Twenty One Capital, Metaplanet, and Bitcoin Standard Treasury Company.
This dominance highlights Strategy’s role as a pioneer among corporate digital asset treasuries. Its sustained purchases, even during price downturns, have reinforced the narrative that institutional players view Bitcoin as a long-term strategic reserve asset rather than a short-term trade.
The trend is also spreading beyond Bitcoin. Companies are increasingly building Ethereum-based treasury positions, mirroring Strategy’s approach.
- BitMine Immersion Technologies currently leads public firms holding ETH, with 4,422,659 ETH on its balance sheet following recent acquisitions.
- Sharplink, a Nasdaq-listed company backed by Consensys, has amassed 867,798 ETH, making it the second-largest corporate Ethereum holder after BitMine.
These moves signal broader institutional confidence in digital assets as treasury instruments and strategic hedges.
Bitcoin Remains Central to Strategy’s Identity
Nearly six years after its first purchase, Strategy’s commitment to Bitcoin shows no signs of slowing. The company continues to acquire BTC even when prices fall below its historical average, reinforcing its thesis that long-term adoption outweighs short-term volatility.
The scale of its holdings has positioned Strategy as one of the most influential corporate players in the crypto market, with its actions closely watched by investors, institutions, and policymakers alike. Its financing model, capital structure, and consistent accumulation strategy have effectively turned the company into a publicly traded proxy for Bitcoin exposure.
As institutional adoption deepens and more corporations explore digital asset treasuries, Strategy’s milestone 100th purchase highlights the evolution of Bitcoin from a speculative asset into a core component of corporate financial strategy. Whether markets remain volatile or rebound in the coming years, the firm’s continued accumulation underscores a conviction that Bitcoin’s long-term role in global finance is still unfolding.
