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CryptoQuant analyst JA Maartunn highlights two impressive milestones by Saylor’s Strategy after its latest Bitcoin purchase.
Maartunn called attention to these milestones on the back of the company’s recent announcement. For context, Strategy confirmed in a filing on Dec. 15, 2025, that it acquired 10,645 Bitcoin between Dec. 8 and 14, 2025, committing a total of $980.3 million, including transaction-related costs.
Strategy Buys 10K+ Bitcoin in Latest Play
The company paid an average price of $92,098 per Bitcoin during the buying window. With Bitcoin currently trading for $89,488, the latest purchase is now at an unrealized loss of nearly $28 million, a trend with the company’s recent buys.
However, Strategy remains unfazed. With this addition, the firm’s total Bitcoin holdings have increased to 671,268 BTC at press time. The company has now invested roughly $50.33 billion in Bitcoin overall, with an average purchase price of $74,972 per coin.
Notably, Strategy funded the latest acquisition through its at-the-market equity program, drawing capital from several securities offerings. During the same one-week period, the company sold 163,306 shares of its 10.00% Series A Perpetual Strife Preferred Stock, generating $18.0 million in net proceeds.
It also issued 7,036 shares of its 8.00% Series A Perpetual Strike Preferred Stock, raising $0.6 million, and sold 1,029,202 shares of its 10.00% Series A Perpetual Stride Preferred Stock, which delivered $82.2 million after commissions.
In addition to preferred stock sales, Strategy raised the bulk of its funding through its Class A common stock. The company sold 4,789,664 common shares, securing $888.2 million in net proceeds.
Altogether, Strategy generated approximately $989.0 million from these equity sales during the period, closely aligning with the capital deployed for the Bitcoin purchase.
The filing also shows that Strategy retains substantial capacity to issue additional securities across its various programs, leaving room for future capital raises if the company decides to expand its Bitcoin position further.
Two Major Milestones for Saylor
Speaking on this purchase, Maartunn highlighted two important milestones Michael Saylor has attained with Strategy. According to him, Strategy’s total Bitcoin investment has now exceeded the $50 billion mark, currently sitting at $50.33 billion.
Notably, this $50.33 billion investment, which began with a $250 million purchase in August 2020, has scooped up 671,268 BTC, according to the press release. With these assets currently worth $60.07 billion, Strategy is still seeing paper profits of over $10 billion on its investment despite Bitcoin’s current struggles.
Meanwhile, for the second milestone, Maartunn pointed out that Strategy’s year-to-date Bitcoin investments for 2025 have already surpassed the peaks from previous years. For context, 2024 previously held the record for the most Bitcoin investments by Strategy, as the firm spent $21.97 billion to scoop up 257,250 BTC last year.
Now, with the latest $980 million investment, Strategy has spent a whopping $22.46 billion to purchase 225,228 BTC so far in 2025. While the company’s 2024 Investors scooped up more BTC, its 2025 purchases have exceeded the 2024 figure but for less BTC. This is largely due to Bitcoin’s higher values this year, leading to higher cost prices.