Key Facts
- ✓ Strategy acquired 13,627 Bitcoin for approximately $1.25 billion between January 5 and January 11
- ✓ Total Bitcoin holdings reached 687,410 BTC, acquired for $51.8 billion at an average price of $75,353 per coin
- ✓ The purchase was funded through equity sales generating $1.2 billion in net proceeds, including Class A common stock and Series A preferred stock
- ✓ Strategy increased U.S. dollar reserves to $2.25 billion to support preferred dividends and debt obligations
- ✓ MSCI postponed decisions regarding exclusion of Digital Asset Treasury Companies from global indexes to February 2026
Quick Summary
Strategy has purchased an additional 13,627 Bitcoin for approximately $1.25 billion, according to regulatory filings dated January 12. The acquisition was executed between January 5 and January 11 at an average price of $91,519 per coin.
The purchase brings the company's total Bitcoin treasury to 687,410 BTC, acquired for an aggregate cost of $51.8 billion. Funding was provided through the company's at-the-market offering program, which included sales of both Class A common stock and Series A perpetual preferred stock.
This transaction represents the third consecutive week of Bitcoin acquisitions by Strategy. The company also maintains $2.25 billion in U.S. dollar reserves to support financial obligations.
Acquisition Details and Funding Structure
Strategy completed its latest Bitcoin acquisition through an at-the-market offering program, generating approximately $1.2 billion in net proceeds. The funding breakdown included $1.1 billion from Class A common stock sales and $119 million from the company's 10.00% Series A perpetual preferred stock, known as Stretch (STRC).
The purchase was executed at an average price of $91,519 per Bitcoin, bringing the company's total holdings to 687,410 BTC. Strategy's cumulative investment in Bitcoin now stands at $51.8 billion, with an average purchase price of $75,353 per coin across all acquisitions.
At current market valuations, Strategy's Bitcoin treasury is worth approximately $62 billion. The company has maintained a consistent acquisition strategy, adding to its holdings for a third straight week.
In addition to the Bitcoin purchase, Strategy reported increasing its U.S. dollar reserves to $2.25 billion. These reserves are designated to support preferred stock dividends and debt obligations.
"not a fund, not a trust, and not a holding company"
— Michael Saylor
Previous Week's Activity
The latest acquisition follows Strategy's purchase of 1,286 BTC for approximately $116 million during the previous week. That transaction occurred between late December and early January, lifting total holdings at the time to 673,783 BTC.
The earlier purchase was also funded through Class A share sales under the same at-the-market program. Strategy reported an average Bitcoin cost basis of roughly $75,000 per coin during that period.
Despite Bitcoin trading above $90,000 to start 2026, Strategy recorded a $17.44 billion unrealized loss in the fourth quarter of 2025. This loss resulted from price declines following October highs.
MSCI Index Review Status
Strategy has been the subject of significant attention regarding its inclusion in MSCI global equity indexes. MSCI, a major index provider, initiated a review in late 2025 to determine whether companies with more than 50% of assets in digital assets should remain in benchmarks such as the MSCI World and MSCI USA indexes.
Exclusion from these indexes could have resulted in substantial selling pressure. Analysts estimated that passive funds tracking MSCI indexes alone could have been forced to sell up to $2.8 billion in MSTR shares. Additional outflows were possible if other index providers followed suit.
Strategy's stock experienced declines in late 2025 as markets priced in the risk of index exclusion. Company leadership, including Michael Saylor, engaged with MSCI to defend the company's positioning.
In a public statement, Saylor emphasized that Strategy is "not a fund, not a trust, and not a holding company." He described the firm as a publicly traded operating company with a $500 million software business and a unique treasury strategy.
In early January 2026, MSCI announced it would not implement proposed exclusions of Digital Asset Treasury Companies (DATCOs) at this time. The decision effectively postpones any removal until the February 2026 review, providing short-term relief for Strategy's stock price, which rose 4%–6% following the announcement. MSCI indicated plans for a broader consultation on classifying non-operating companies, suggesting the issue may resurface later in 2026.
Market Context and Bitcoin Valuation
Bitcoin has traded within a narrow range around $90,000 in recent months. Despite Strategy's aggressive accumulation, the asset's price has remained relatively stable, currently trading at $90,555.
The price stability occurs despite Strategy's continued buying activity and the company's significant unrealized loss in Q4 2025. The market appears to be balancing institutional buying against broader macroeconomic factors affecting cryptocurrency valuations.
