Global corporate crypto holdings took a dramatic leap as Strategy disclosed acquiring 10,624 more bitcoins between 1 and 7 December 2025, at an average price of $90,615 per coin. That purchase—amounting to about $962.7 million—raises the firm’s total holdings to 660,624 BTC, equivalent to roughly 3 % of the entire Bitcoin supply.
The acquisition was funded primarily through the company’s at-the-market equity programme. According to the company’s SEC filing, proceeds included roughly $928.1 million from sales of common stock and an additional $34.9 million from preferred-stock offerings. The aggregated cost basis for all holdings now stands at near $49.35 billion — with each Bitcoin averaging out at about $74,696 under the long-term accumulation plan.
The move underlines a strategic commitment to treating Bitcoin not as a speculative asset, but as a core corporate treasury reserve. Since 2020, Strategy has systematically deployed equity and debt issuance to amass its holdings. Observers argue the build-up reflects growing institutional conviction in Bitcoin’s role as a hedge against inflation and currency devaluation, rather than a short-term trade.
Yet this aggressive accumulation strategy is not without its critics. Some analysts warn that reliance on continuous stock issuance becomes problematic if Strategy’s market valuation falls below the net asset value of its Bitcoin holdings. Under such a scenario, new equity would dilute shareholder value rather than enrich it — potentially forcing the firm to consider divesting BTC instead of adding more.
At current levels, Strategy’s treasury is valued at approximately $60 billion based on prevailing Bitcoin prices. Proponents contend this massive allocation could influence broader market sentiment and encourage other public firms to regard cryptocurrency as a legitimate treasury asset. Indeed, a growing number of businesses worldwide have adopted similar approaches, shifting corporate treasuries toward digital assets.
But the structural mechanics supporting such a strategy appear increasingly fragile. The “equity-for-bitcoin” model depends heavily on sustaining investor appetite for new share issuances — a dynamic that may falter if Bitcoin’s price volatility undermines confidence or if regulatory headwinds emerge.
For Strategy, the latest acquisition marks another milestone in its transformation from a traditional software firm into a crypto-native treasury giant. With over 660,000 BTC on its balance sheet, the firm continues to steer a path that could reshape how corporations view and deploy digital assets as part of long-term financial strategy.
Arabian Post – Crypto News Network
Also published on Medium.
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