Strategy Shares Slip After ~$100M Bitcoin Purchase, May Face Near-Term Pressure Despite $72B Treasury

• 850 BTC acquired for ~$99.7–$100M at ~$117,344 per BTC

• Shares fell ~1.4% after the buy; MSTR is down ~5.2% over 1 month versus BTC down ~1.6%.

• Strategy’s treasury now holds ~635,893–639,835 BTC, valued around $72B; funding came from STRF preferred and common stock offerings.

Meta description: Strategy Bitcoin treasury expands with a $100M BTC purchase; MSTR now holds ~635,893 BTC valued near $72B — learn funding sources and analyst outlook.

Published: 2025-09-22 · Updated: 2025-09-22 · Author: COINOTAG

What did Strategy buy and why does it matter?

Strategy’s latest MSTR Bitcoin purchase added 850 BTC for roughly $99.7–$100 million at an average price near $117,344 per coin. The buy increases Strategy’s Bitcoin treasury to roughly 635,893–639,835 BTC, strengthening its position as the largest corporate Bitcoin holder and impacting investor sentiment about share valuation.

How did Strategy fund the $100M Bitcoin purchase?

Management used approximately $19 million from STRF preferred stock proceeds and more than $80 million in net proceeds from its $21 billion at-the-market (ATM) common stock offering. Strategy continues to operate five ATM programs and retains sizable issuance capacity across common and preferred offerings to fund further BTC purchases.

How have MSTR shares reacted to the purchase?

Shares of MSTR slipped about 1.4% immediately after the announced purchase and trade near $339.80. Over the prior month, MSTR is down ~5.2% while Bitcoin itself is down ~1.6%, indicating temporary investor pressure despite long-term accumulation strategy.

What are analysts saying about MSTR after the buy?

TD Cowen analysts maintain a buy view and a $620 price target, citing management’s stance that common stock is undervalued relative to Bitcoin and potential catalysts like inclusion in the S&P 500 and broader Bitcoin adoption. This analyst outlook frames the purchase as part of a value-driven capital allocation plan.

Why does Strategy’s treasury scale matter?

Strategy’s holdings—now more than 10 times larger than the next largest corporate treasury reported by a Bitcoin miner—signal concentrated corporate exposure to BTC and influence market narratives on institutional accumulation. Large, repeated acquisitions can shape investor expectations and support long-term value arguments for MSTR equity.

What official data or commentary supports these figures?

Company filings and press releases from Strategy detail ATM program capacities and proceeds used. Public commentary from company leadership, including market updates on holdings and yield figures, corroborates reported BTC counts and acquisition prices. Independent analyst notes from firms such as TD Cowen provide valuation context.

Frequently Asked Questions

How many BTC does Strategy hold now?

Strategy’s disclosed treasury stands near 635,893–639,835 BTC following the recent 850 BTC purchase, with an estimated valuation around $72 billion at the time of reporting.

Did the recent purchase affect MSTR stock performance?

Yes. MSTR shares fell roughly 1.4% immediately after the buy and are down about 5.2% over the past month, underperforming Bitcoin which is down ~1.6% in that same period.

Key Takeaways

• Major purchase: 850 BTC for ~$99.7–$100M at ~ $117,344 per BTC strengthened Strategy’s treasury.
• Funding sources: Proceeds came from STRF preferred stock and net proceeds from the common ATM offering.
• Market view: Analysts like TD Cowen still rate the stock a buy, citing undervaluation relative to BTC and possible S&P 500 inclusion.

Conclusion

Strategy’s $100 million acquisition of 850 BTC further cements its position as the largest corporate Bitcoin holder and underscores the firm’s capital-raising model using common and preferred stock offerings. Investors will watch issuance capacity and macro adoption signals as potential catalysts; COINOTAG will continue monitoring updates and filings for material changes.