Strategy Pushes Total Bitcoin Holdings Past 700,000 BTC

Strategy’s latest Bitcoin purchase fits into a much bigger picture than a single transaction.

Over time, the company has been transforming itself into what is effectively a long-term Bitcoin holding vehicle, using its balance sheet as the primary tool. The newest acquisition only reinforces that trajectory.

The firm recently added 22,305 Bitcoin to its reserves, committing about $2.13 billion at prices just over $95,000 per coin. With this move, Strategy’s total holdings climbed to 709,715 BTC, accumulated at an overall cost of roughly $53.9 billion.

Averaged across years of buying, the company’s entry price now sits near $76,000 per Bitcoin, a figure that highlights how much of its exposure was built well before the current price range.

A Treasury Strategy Measured in Years, Not Trades

Unlike most corporate investors, Strategy has never treated Bitcoin as a position to be actively managed or rotated. Its approach has been deliberately repetitive: raise capital, convert it into Bitcoin, and hold. Funding has come from multiple channels, including share issuance, convertible notes, and operating cash flow, allowing the company to keep adding exposure regardless of short-term market sentiment.

At current prices, Strategy’s Bitcoin stash is valued in the tens of billions of dollars, making its corporate performance increasingly intertwined with the long-term path of Bitcoin itself. This is not an accidental outcome, but the core design of the strategy.

What This Means for the Market

Each large purchase by Strategy quietly removes a sizable amount of Bitcoin from active circulation. Over time, this contributes to a gradual tightening of liquid supply, especially as more BTC migrates from exchanges to long-term holders. In that environment, future demand shocks can have a more pronounced effect on price.

The continued accumulation also carries a signaling effect. Through repeated disclosures and purchases, articulated publicly by Michael Saylor, Strategy has positioned Bitcoin as a treasury asset rather than a speculative instrument. That stance has helped normalize the idea of Bitcoin on corporate balance sheets, encouraging other institutions to evaluate it through a similar long-duration lens.

Taken together, the latest buy is less about timing and more about persistence. Strategy is not reacting to price moves; it is executing a long-term thesis, one purchase at a time, and reshaping both its own identity and the broader institutional narrative around Bitcoin in the process.

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