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MicroStrategy, now doing business as Strategy, disclosed a fresh purchase of 1,955 bitcoin between September 2 and September 7 for about $217.4 million. The average price was roughly $111,196 per coin, according to an SEC 8-K filing. The latest buy came just after the company was left out of the S&P 500, a decision that drew headlines as Strategy continued to add to its holdings.
With this addition, Strategy’s stash climbed to roughly 638,000 BTC by early September based on tracker estimates. The firm has used at-the-market equity programs and other capital raises to fund accumulation through 2025, keeping its average purchase price in the low to mid-$70,000s per bitcoin.
The buy follows a series of summer acquisitions that reinforced Strategy’s role as the largest public corporate holder of bitcoin. Earlier disclosures showed thousands of coins added in late August and early September, signaling steady execution of a multi-year treasury plan that treats BTC as a core reserve asset.
Market reaction has been mixed. While bitcoin’s price drifted around the $110,000 area during the purchase window, Strategy’s stock has faced bouts of volatility and periodic investor pushback over valuation and dilution concerns. Supporters argue that consistent buying and a long horizon are central to the thesis, while critics point to balance sheet concentration and equity issuance risk.
The takeaway is simple. Strategy is still buying into strength and weakness alike, using public market tools to expand a bitcoin treasury that now dwarfs peers. Whether shareholders reward that approach will depend on BTC’s path and how efficiently the company finances future rounds of accumulation.
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