Strategy Completes 100th Bitcoin Buy, Total Holdings Reach 717,722 BTC

Highlights:

• Strategy hit its 100th Bitcoin purchase, adding 592 BTC worth nearly $40 million.
• Its total stash now stands at 717,722 Bitcoin after consistent growth over six years.
• While Strategy keeps accumulating, smaller firms like Cango, Exodus, Genius Group, and Bitdeer recently reduced holdings.

Michael Saylor’s Strategy reached a major milestone in its Bitcoin plan last week. The company made its 100th purchase, adding 592 Bitcoin worth about $39.8 million. With this, its total holdings have grown to around 717,722 coins, built steadily over nearly six years.

The new batch was bought at an average price of about $67,286 per Bitcoin, according to a recent filing with the U.S. Securities and Exchange Commission. To pay for it, Strategy sold 297,940 shares of its Class A stock through an ongoing program. Those sales raised about $39.7 million, which went directly into the Bitcoin purchase.

This purchase is a big milestone for the company. Strategy first started buying Bitcoin in August 2020. Since then, it has steadily grown its holdings through regular purchases, often funded by selling shares or using other market tools.

Many in the industry now see Strategy as one of the most consistent corporate buyers of Bitcoin. Stock sales remain its main funding method. For this latest buy, Strategy did not use its preferred stock facilities. Instead, it stuck with selling common shares to raise cash. That approach has become its pattern in recent years, using share dilution to fund new Bitcoin purchases rather than relying on debt or cash reserves.

Strategy’s 100th Bitcoin Purchase Lifts Control to 3.4% of Circulating BTC

This purchase is important for both Strategy and the wider market. The company now owns about 3.4% of all circulating Bitcoin, since the total supply is capped at 21 million coins. At today’s prices, its treasury is worth tens of billions, though the average price it paid is still higher than the current market value.

For the wider market, Strategy’s steady buying sends a clear message. It shows strong long term belief, even when prices move up and down. On Feb. 20, Michael Saylor once again showed strong confidence in Bitcoin. In a post on X, Mr. Saylor said that Bitcoin has only two possible outcomes in the long term. The price of Bitcoin will either go down to zero or go up to $1 million.

Smaller Firms Cut Bitcoin Holdings

The largest corporate Bitcoin holders are still sitting tight. None of the top 20 companies has disclosed fresh sales in recent days. Their treasury balances appear unchanged. Still, movement is happening lower down the list. A few smaller public firms have started cutting their Bitcoin reserves, according to updated data from Bitcoin Treasuries.

China-based Cango Inc., ranked 27th, cut its holdings by more than 54% in two weeks. The company reduced its balance from 8,095 BTC on Feb. 8 to 3,644 BTC, now worth about $246 million. US firm Exodus Movement trimmed its holdings slightly, moving from 1,704 BTC to 1,694 BTC. Its remaining stash is valued at around $114 million. Singapore-based Genius Group reduced its balance from 180 BTC to 84 BTC, cutting more than half of its reserves. The current value stands near $5.6 million. Meanwhile, mining company Bitdeer sold all 943 BTC it held, bringing its treasury to zero.