Strategy, formerly known as MicroStrategy, continues its strategic accumulation of Bitcoin, edging closer to the 700,000 BTC mark. The company's latest purchase, revealed on Monday, October 20, 2025, involved acquiring an additional 168 BTC for approximately $18.8 million between October 13 and October 19. This brings Strategy's total holdings to 640,418 BTC, a figure worth around $71.1 billion.
The average purchase price for Strategy's entire Bitcoin stash is approximately $74,010 per bitcoin, totaling around $47.4 billion, including fees and expenses. This positions the company with substantial paper gains, estimated at around $23.7 billion, considering current market prices. To put the magnitude of Strategy's holdings into perspective, their Bitcoin represents more than 3% of the total 21 million Bitcoin supply.
Michael Saylor, Strategy's co-founder and executive chairman, has been a vocal advocate for Bitcoin, championing its potential as a store of value and a hedge against inflation. Saylor has often used social media to hint at upcoming purchases. On Sunday, October 19, 2025, Saylor shared an update on Strategy's Bitcoin acquisition tracker, stating, "The most important orange dot is always the next," further fueling speculation about the company's continued accumulation strategy.
Strategy has been funding its Bitcoin acquisitions through various means, including proceeds from the issuance and sale of its perpetual preferred stocks. These include the Strike (STRK), Strife (STRF), and Stride (STRD) preferred stocks.
Saylor has emphasized Strategy's ability to rapidly deploy capital into Bitcoin, stating the company can convert up to $100 million of raised capital into Bitcoin within an hour. In a recent podcast interview, he noted that Strategy could raise a billion dollars in a day and be fully done buying Bitcoin by 6 p.m.. He also mentioned the company can execute trades of $50 to $100 million per hour, allowing for scalable purchases without significant delays.
Despite Strategy's aggressive Bitcoin accumulation strategy, some critics have raised concerns about shareholder dilution and risk. However, Saylor has dismissed these concerns, arguing that critics are "strategically ignorant" of the benefits and mechanisms behind the company's approach. He maintains that Strategy's capital structure is designed to withstand a significant drop in Bitcoin's price, even a 90% decline lasting four to five years.
While Strategy's stock, MSTR, closed up 2.1% on Friday, October 17, 2025, at $289.87, it has fallen 10.3% for the week overall and is down 3.4% year-to-date. This contrasts with Bitcoin's 14.3% gain for 2025, as markets continue to digest renewed U.S.-China trade tensions.
Despite market fluctuations and criticisms, Strategy remains steadfast in its commitment to Bitcoin. The company's substantial Bitcoin holdings solidify its position as the largest corporate holder of the cryptocurrency, representing approximately 2.5% of the total Bitcoin supply. As Strategy continues its accumulation strategy, the market watches closely, anticipating the next "orange dot" on Michael Saylor's Bitcoin tracker and the company's continued march toward potentially holding 700,000 BTC.
