- $740.3 million was raised through share sales across four security classes.
- 1.6 million MSTR shares sold under an ATM authorization, raising funds tied to a $21 billion allowance.
- Strategy’s BTC holdings have returned 20.8% year-to-date in 2025.
Strategy expanded its corporate balance sheet by acquiring an additional 6,220 Bitcoin, spending $739.8 million during the week ending July 20, 2025.
The purchases were financed through the company’s ongoing at-the-market (ATM) equity offerings.
Following this latest acquisition, the company now holds 607,770 BTC — valued at more than $43 billion at current prices — making it the largest institutional holder of Bitcoin worldwide.
According to a filing published Monday, the company chaired by billionaire Michael Saylor paid an average of $118,940 per Bitcoin for the most recent purchases.
That price represents a significant premium versus the firm’s historical average acquisition cost of $71,756 per BTC.
Strategy issues 1.6 million MSTR shares in latest equity round
Between July 14 and July 20, Strategy raised approximately $740.3 million across four different security classes.
The vast majority — $736.4 million — came from the sale of 1,636,373 MSTR common shares.
The company also issued 5,441 STRK preferred shares with an 8.00% exercise equivalent, raising $700,000. Another 2,000 STRF preferred shares were sold with a 10.00% exercise equivalent for $200,000. Additionally, 31,282 STRD preferred shares, also tied to a 10.00% exercise equivalent, were issued for proceeds of $3.0 million.
All four instruments fall under large issuance programs totaling several billions of dollars. Both the MSTR and STRK share classes are authorized for up to $21 billion each.
These programs demonstrate that Strategy continues to convert substantial amounts of equity into Bitcoin reserves without relying on traditional debt financing.
Bitcoin acquisition costs deliver 20.8% YTD return for Strategy
Bitcoin prices remain well above Strategy’s average cost basis of $71,756 per BTC, producing a 20.8% year-to-date return on the company’s Bitcoin holdings in 2025.
At current market levels — just above $118,000 — Strategy’s crypto treasury continues to outperform many conventional corporate investments.
This return is notable given that Bitcoin consolidated after reaching an all-time high near $123,000 last week.
Although prices have eased slightly since that peak, the bullish market structure remains intact.
Analysts have pointed to a pennant formation following BTC’s strong July rally, a continuation pattern that typically signals further upside potential.
Despite short-term volatility, Strategy’s long-term accumulation approach has shown resilience.
The recent purchase reaffirms the company’s commitment to treating Bitcoin as its primary treasury asset and long-term store of value.
Market reacts as Saylor signals continued BTC accumulation
Michael Saylor has consistently framed Bitcoin as a superior store of value.
Just days after the recent BTC purchase, he posted on X (formerly Twitter): “Stay humble, stack sats.” The comment was widely interpreted as an indication that Strategy’s accumulation is far from finished.
The company’s combined approach of accessing equity markets while buying Bitcoin serves as a blueprint for institutional crypto engagement.
As regulatory clarity and institutional infrastructure improve, Strategy’s model could influence how other publicly traded companies allocate treasury assets.
Bitcoin’s recent rally, coupled with corporate participation at this scale, continues to shift market sentiment toward broader long-term acceptance.
While the token’s price has softened slightly from its recent high, its resilience above the $115,000 level is being closely watched by traders and institutional investors alike.