Bitcoin treasury company Strategy, previously known as MicroStrategy, has acquired an additional 1,955 BTC for approximately $217.4 million at an average price of $111,196 per bitcoin between September 2 and September 7, 2025.
This latest purchase brings the company’s total bitcoin holdings to 638,460 BTC, valued at roughly $71 billion, and represents more than 3% of Bitcoin’s total supply.
Funding and capital strategy
The acquisitions were funded through at-the-market sales of Strategy’s Class A common stock (MSTR) and a variety of perpetual preferred stock offerings, including STRK, STRC, STRF, and STRD.
These stock programs—part of the firm’s ambitious “42/42” plan—target an $84 billion capital raise for additional bitcoin purchases through 2027, doubling the original goal after equity demand exceeded expectations.
For detailed historical holdings, refer to the MicroStrategy bitcoin holdings tracker.
S&P 500 exclusion and market reaction
Despite strong quarterly results and meeting all criteria, Strategy was not included in the S&P 500 index, which instead admitted AppLovin, Robinhood, and EMCOR Group.
S&P 500 inclusion could have forced passive funds to buy Strategy shares, given the estimated $22 trillion benchmarked to the index.
Strategy’s executive chairman Michael Saylor responded to the exclusion:
“Thinking about the S&P right now…”
He said this alongside a chart showing the company’s outperformance against both the S&P 500 and bitcoin since adopting its bitcoin treasury strategy.
The growing corporate bitcoin treasury landscape
The number of public companies holding bitcoin continues to rise, with 171 firms now reporting bitcoin on their balance sheets.
Other major holders include Marathon Digital, Metaplanet, Riot Platforms, and Coinbase.
However, many of these companies have seen their share prices fall from summer highs, with Strategy’s own stock down 26% over the past year even as bitcoin’s price remains up for 2025.
Regulatory scrutiny and outlook
Recent Nasdaq moves to require greater oversight of companies raising cash for bitcoin purchases have not impacted Strategy’s capital activities, according to Saylor.
As of Friday, MSTR closed up 2.5% for the week, while bitcoin posted a 1.9% gain.
