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Strategy continued its aggressive accumulation of bitcoin, adding 3,081 BTC for $356.9M at an average price of $115,829. The buy brings its total stash to 632,457 BTC, just over 3% of the total bitcoin that will ever exist.
What’s the Scoop?
- New Buy: 3,081 BTC acquired between Aug. 18 and Aug. 24 for $356.9M, per SEC filings. Treasury now sits at 632,457 BTC, bought at an average $73,527 per coin, implying $23.5B in paper gains.
- Capital Strategy: At a $112B market cap, Strategy trades at roughly a 60% premium to its bitcoin holdings.
- Market Context: The company remains the largest corporate bitcoin holder, controlling 3% of total supply, well ahead of miners, financial firms, and other treasury peers.
Bankless Take:
Strategy's recent guidance walk back to allow at-the-market share sales below a 2.5x mNAV is responsible for this transaction. Although complex exotic preferred instruments were sold (STRK, STRF, and STRD), 87% of funds raised came from vanilla MSTR share sales. Notably, no dollar of this transaction was funded through convertible bonds.
Strategy has acquired 3,081 BTC for ~$356.9 million at ~$115,829 per bitcoin and has achieved BTC Yield of 25.4% YTD 2025. As of 8/24/2025, we hodl 632,457 $BTC acquired for ~$46.50 billion at ~$73,527 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/KCrM0ffClo
— Michael Saylor (@saylor) August 25, 2025
