Strategy’s $835M Bitcoin Week Pushes Treasury to 649,870 BTC as 42/42 Capital Plan Accelerates

Strategy — previously known as MicroStrategy — has stepped into one of its biggest accumulation weeks of 2025, adding 8,178 BTC between Nov. 10 and Nov. 16. The purchase totaled $835.6 million, executed at an average price of $102,171 per coin, according to a new SEC 8-K filing.

With this buy, the company’s bitcoin war chest has surged to 649,870 BTC, currently valued near $61.7 billion. Across all acquisitions, Strategy’s average purchase price stands at $74,433, putting its total cost basis at roughly $48.4 billion — and positioning the firm on an estimated $13.3 billion in paper gains.

How Strategy Funded the Megabuy

The week’s haul leaned heavily on proceeds from its wide-ranging perpetual preferred stock programs:

• STRK (Strike) — convertible, 8% non-cumulative dividend

• STRF (Strife) — non-convertible, 10% cumulative dividend

• STRC (Stretch) — variable-rate preferred with monthly payouts

• STRE — 0% coupon euro-denominated exchangeable note

A significant portion of the latest purchase was backed by €620 million ($715M) from Strategy’s first euro-based preferred issuance.

These offerings sit atop the company’s massive “42/42” capital blueprint, now expanded toward $84 billion in equity and convertible issuance capacity through 2027 — fueling a multi-year bitcoin acquisition engine.

Recent Stock Program Activity

Last week’s sales included:

• 5,513 STRK sold for ~$500K

• 39,957 STRF sold for ~$4.4M

• 1,313,641 STRC sold for ~$131.2M

Remaining capacity remains enormous:

• $20.34B STRK

• $4.04B STRC

• $1.64B STRF

• $15.85B MSTR (Class A)

• $4.13B STRD (non-convertible, 10% non-cumulative)

A Week of Quiet Signals from Saylor

Strategy had telegraphed its move earlier when Michael Saylor posted a succinct hint on the company’s tracker: “₿ig week.”

Just days prior, Strategy also acquired 487 BTC for $49.9M, taking its holdings to 641,692 BTC before this larger week of additions.

The Wider Corporate Bitcoin Landscape

According to Bitcoin Treasuries data, 194 public companies now follow a bitcoin aggregation model. Strategy remains the undisputed leader, followed by:

• MARA – 53,250 BTC

• Twenty One – 43,514 BTC

• Metaplanet – 30,823 BTC

• Adam Back – 30,021 BTC

• Bitcoin Standard Treasury Co. – 24,300 BTC

• Bullish – 19,324 BTC

• Riot Platforms – 14,548 BTC

• Coinbase – 13,696 BTC

• CleanSpark – 13,011 BTC

Strategy alone controls over 3% of Bitcoin’s lifetime supply, reinforcing its position as the world’s dominant corporate accumulator.