MicroStrategy Bolsters Bitcoin Holdings with Major Purchase

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In a significant move that reinforces its position as the leading corporate holder of the cryptocurrency, MicroStrategy has executed its largest Bitcoin acquisition since July 2025. The company, under Executive Chairman Michael Saylor, purchased 13,627 BTC for approximately $1.25 billion. This transaction elevates its total holdings to 687,410 Bitcoin, with a current market value hovering around $62 billion. Following the announcement, the firm’s shares advanced by 3.11% on Monday.

The latest addition to its digital asset treasury was secured between January 5 and January 11. MicroStrategy paid an average price of $91,519 per Bitcoin. Funding for the purchase originated from two primary sources: $1.1 billion generated from sales of common stock and $119.1 million from the issuance of preferred shares (STRC). These capital raises were conducted under the company’s ongoing at-the-market offering program.

This marks the third consecutive Bitcoin transaction by the enterprise software company within a matter of weeks. With this purchase, MicroStrategy’s aggregate cost basis for its entire Bitcoin portfolio now stands at $51.8 billion, translating to an average purchase price of $75,353 per coin. With Bitcoin currently trading near $90,500, the company sits on an unrealized gain of roughly $10 billion.

Strategic Timing Amid Market Volatility

The aggressive accumulation comes at a pivotal moment for MicroStrategy. The fourth quarter of 2025 proved challenging, as the company reported an unrealized loss of $17.44 billion due to a 24% decline in Bitcoin’s price—the most severe quarterly drop since mid-2022. Since 2025, accounting rules have required the firm to value its Bitcoin holdings at market prices each quarter, leading to substantial volatility in its reported earnings.

A positive development earlier in January provided a favorable backdrop for the purchase. Index provider MSCI decided against excluding companies with substantial cryptocurrency holdings from its global indices. Analysts at JPMorgan had previously estimated that an exclusion could have triggered forced selling of MicroStrategy stock by index funds, potentially amounting to $8.8 billion.

Strengthening the Financial Foundation

In a move to address investor concerns about liquidity, MicroStrategy built a substantial cash reserve of $2.25 billion in December. This reserve is designed to cover dividend payments and debt obligations for an estimated 21-month period, mitigating any potential pressure to liquidate Bitcoin holdings to meet corporate commitments.

The scale of MicroStrategy’s commitment to Bitcoin is unprecedented in public markets. Its holdings of 687,410 BTC represent over 3% of the entire Bitcoin supply, a stake no other publicly traded corporation comes close to matching.

Market participants now await the official Q4 2025 earnings report in the coming weeks. Analysts surveyed anticipate a profit of $46.02 per share, though the new mark-to-market accounting for Bitcoin is expected to heavily influence the final figures.