Michael Saylor’s company Strategy — the world’s largest publicly traded holder of Bitcoin — has quietly expanded its BTC position once again, taking advantage of the recent post–Black Friday market dip.
According to Strategy’s disclosure on X (formerly Twitter) on Monday, the firm purchased 168 Bitcoin (BTC) last week for about $18.8 million, bringing its total stash to new highs despite volatile market conditions.
The latest acquisition was made at an average price of $112,051 per coin, even though Bitcoin briefly plunged below $104,000 on Friday following the October 10 crypto crash, based on Coinbase data.
With this purchase, Strategy now holds 640,418 BTC, bought for roughly $47.4 billion at an average entry price of $74,010 per Bitcoin.
Strategy’s slow march toward 700K BTC
Unlike the aggressive accumulation phases earlier this year — when Strategy was adding up to 25,000 BTC per month — recent purchases have been smaller and more gradual.
Over the past few months, Strategy acquired 7,714 BTC in August and 3,526 BTC in September, averaging a pace of roughly 5,620 BTC per month.
At that rate, it would take the company about 11 months to hit the symbolic 700,000 BTC mark.
The recent 168 BTC addition followed another 220 BTC buy worth $27.2 million the week prior, which occurred just as Bitcoin briefly set a new all-time high above $126,000, before crashing back to $110,000 in the sharp October 10 sell-off.
MSTR stock under pressure
While Strategy continues to buy Bitcoin, its MSTR (Common A) shares have faced steady selling pressure.
Last week, the stock slipped below $284, levels unseen since April 2025 — marking a 21% decline since October 5, according to TradingView data.
Still, despite short-term weakness, MSTR remains up over 50% year-over-year, and a staggering 1,650% higher compared to five years ago.
In 2025, MSTR’s lowest recorded price was $238 (April 7), while the peak reached over $455 in July.
Institutional followers join the trend
Even with Strategy’s slower accumulation, other firms have continued adopting Bitcoin as part of their corporate treasury strategies.
A prominent example is Metaplanet, a Japan-based hotel group that began adding Bitcoin to its balance sheet in mid-2024.
By the end of September, Metaplanet had amassed 30,823 BTC (valued at around $34.1 billion) — a position that has since overshadowed the company’s total enterprise valuation.
Its market-to-Bitcoin NAV ratio (mNAV) — which measures how the firm’s market cap compares to the value of its Bitcoin — dropped to 0.99 last Tuesday and slid further to 0.9 by Saturday, meaning the company’s stock was trading below the value of its BTC holdings.
Metaplanet has not made any additional Bitcoin purchases since its last acquisition reported on September 30, and investors are watching closely to see whether the firm will resume its accumulation strategy or pause amid the current volatility.
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