Strategy Inc. Strengthens Bitcoin Treasury
Strategy Inc., a prominent player in the digital asset space, has further solidified its position as a leading corporate Bitcoin holder. On October 6–12, 2025, the company acquired an additional 220 BTC at an average price of $123,561 per Bitcoin, costing $27.2 million. This purchase brings its total Bitcoin holdings to an impressive 640,250 BTC, acquired for $47.38 billion at an average price of $74,000 per BTC.
The acquisition underscores Strategy’s unwavering commitment to Bitcoin as a core treasury reserve asset. By consistently integrating digital assets into its financial strategy, the company is setting a benchmark for corporate adoption of cryptocurrencies.
Strategy has acquired 220 BTC for ~$27.2 million at ~$123,561 per bitcoin and has achieved BTC Yield of 25.9% YTD 2025. As of 10/12/2025, we hodl 640,250 $BTC acquired for ~$47.38 billion at ~$74,000 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/Ft9ZCh1EGx
— Strategy (@Strategy) October 13, 2025
Funding Bitcoin Purchases Through ATM Programs
Strategy funded its latest Bitcoin acquisition through proceeds from its At-The-Market (ATM) programs, specifically the STRF ATM, STRK ATM, and STRD ATM. These programs collectively raised $27.3 million during the reporting period, providing the necessary capital for the purchase.
STRF ATM Program
The STRF ATM, linked to Strategy’s 10.00% Series A perpetual strife preferred stock, sold 170,663 shares. This generated $19.8 million in net proceeds, forming the bulk of the funding for the Bitcoin purchase.
STRK and STRD Contributions
The STRK ATM, tied to the 8.00% Series A perpetual strike preferred stock, contributed $1.7 million through the sale of 16,873 shares. Meanwhile, the STRD ATM, associated with the 10.00% Series A perpetual stride preferred stock, added $5.8 million from 68,775 shares. These programs highlight Strategy’s innovative approach to raising capital for its Bitcoin accumulation strategy.
A Strategic Financial Framework
Strategy’s ATM programs are a cornerstone of its financial strategy, enabling the company to convert equity proceeds into Bitcoin efficiently. By leveraging these programs, Strategy maintains flexibility in its capital-raising efforts while pursuing its long-term goal of expanding its digital asset reserves.
As of October 12, 2025, Strategy has significant capacity for future issuances. The company has $1.7 billion available under its STRF program, $4.1 billion under STRD, $20.3 billion under STRK, and $15.9 billion under its common stock class (MSTR). This substantial financial runway positions Strategy to continue its Bitcoin acquisition strategy as market opportunities arise.
Why Bitcoin as a Treasury Asset?
Bitcoin’s appeal as a treasury asset has grown significantly in recent years, driven by its potential as a hedge against inflation and its increasing acceptance among institutional investors. Strategy’s decision to allocate a significant portion of its treasury to Bitcoin reflects a broader trend among forward-thinking corporations.
Institutional Confidence in Bitcoin
The company’s latest purchase comes at a time of heightened institutional interest in Bitcoin. Factors such as tightening monetary policies, clearer regulatory frameworks, and Bitcoin’s established track record as a store of value have bolstered confidence among corporate treasurers. Strategy’s aggressive accumulation strategy positions it as a leader in this evolving landscape.
Comparison to Peers
With 640,250 BTC under management, Strategy ranks among the largest corporate Bitcoin holders globally, alongside firms like MicroStrategy. These companies are pioneering a new model for corporate treasuries, integrating digital assets to diversify balance sheets and mitigate risks associated with traditional fiat-based reserves.
The Role of ATM Programs in Strategy’s Growth
Strategy’s ATM programs have proven instrumental in its Bitcoin accumulation efforts. By issuing preferred and common stock through these programs, the company generates liquidity without relying solely on debt or operational cash flows. This approach allows Strategy to capitalize on market opportunities while maintaining financial flexibility.
How ATM Programs Work
ATM programs enable companies to sell shares directly into the open market at prevailing prices, providing a steady stream of capital. For Strategy, these programs are tailored to its various stock classes, allowing it to tap into diverse investor bases. The proceeds are then strategically allocated to Bitcoin purchases, reinforcing the company’s digital asset portfolio.
Long-Term Implications
The success of Strategy’s ATM programs highlights the potential for other corporations to adopt similar financing models. By blending equity sales with digital asset investments, companies can diversify their treasuries while capitalizing on the growth potential of cryptocurrencies.
Market Context and Bitcoin’s Role
The timing of Strategy’s purchase aligns with a dynamic period for Bitcoin. As of October 2025, Bitcoin continues to gain traction as a global asset class, with increasing adoption by institutional investors and governments alike. Regulatory clarity in major markets has further bolstered confidence, making Bitcoin an attractive option for corporate treasuries.
Bitcoin’s Price Dynamics
Strategy’s latest purchase at $123,561 per BTC reflects the asset’s price appreciation since its earlier acquisitions at an average of $74,000 per BTC. This price differential underscores Bitcoin’s volatility but also its potential for significant returns, a factor that likely influences Strategy’s long-term strategy.
Broader Economic Trends
Global economic conditions, including persistent inflation concerns and monetary policy shifts, have driven interest in alternative assets like Bitcoin. Strategy’s proactive approach positions it to benefit from these trends while mitigating risks associated with traditional financial instruments.
Strategy’s Leadership in Digital Asset Adoption
Strategy’s Bitcoin treasury strategy is more than a financial maneuver; it represents a paradigm shift in corporate finance. By prioritizing Bitcoin as a reserve asset, the company is redefining how businesses approach treasury management in the digital age.
A Model for Corporate Treasuries
Strategy’s success offers a blueprint for other corporations exploring digital asset integration. Its disciplined approach to capital raising and Bitcoin accumulation demonstrates the viability of cryptocurrencies as a core component of corporate balance sheets.
Challenges and Risks
While Strategy’s strategy has yielded significant results, it is not without risks. Bitcoin’s price volatility, regulatory uncertainties, and potential liquidity constraints pose challenges for corporate treasuries. However, Strategy’s diversified funding approach and substantial issuance capacity mitigate some of these risks.
Future Outlook for Strategy
With billions of dollars in issuance capacity and a clear commitment to Bitcoin, Strategy is well-positioned for further expansion. The company’s ability to navigate market fluctuations and capitalize on Bitcoin’s growth potential will likely shape its trajectory in the coming years.
Potential for Further Purchases
Given its financial runway, Strategy is likely to continue its Bitcoin acquisition strategy. Future purchases will depend on market conditions, equity market performance, and the company’s ability to generate proceeds through its ATM programs.
Industry Influence
Strategy’s leadership in the Bitcoin treasury space is influencing other corporations to explore similar strategies. As more companies adopt digital assets, Strategy’s pioneering efforts will likely be recognized as a catalyst for broader institutional adoption.
Conclusion
Strategy Inc.’s latest $27.2 million Bitcoin purchase reinforces its position as a trailblazer in corporate Bitcoin adoption. By leveraging its ATM programs and substantial issuance capacity, the company continues to expand its digital asset reserves, setting a precedent for others in the industry.
As Bitcoin gains mainstream acceptance, Strategy’s bold strategy underscores the transformative potential of cryptocurrencies in corporate finance.