Strategy, the business intelligence firm formerly known as MicroStrategy, has once again strengthened its Bitcoin position with a significant purchase. In a filing with the US Securities and Exchange Commission (SEC) on September 2nd, the company revealed that it had acquired 4,048 BTC for $449.3 million, at an average price of $110,981 per coin. This latest acquisition brings Strategy’s total Bitcoin holdings to 636,505 BTC, purchased at a total cost of $46.95 billion, or approximately $73,765 per coin. As of current market prices, this stash is valued at $69.24 billion.
According to data from Bitcoin Treasuries, Strategy now holds just over 3% of Bitcoin’s maximum supply, making it one of the largest corporate holders of the digital asset. Following this purchase, Strategy also announced an adjustment to the dividend rate on its STRC preferred stock, increasing the annual payout from 9% to 10%. The STRC security, which was launched in July, is non-convertible and designed to provide variable-rate income.
The financing for this latest Bitcoin purchase was a combination of common and preferred stock offerings. Strategy sold 1.24 million shares of its Class A common stock for $425.3 million, with the remaining $46.5 million raised through its preferred share programs, including STRK, STRF, and STRD.
The decision to rely on common stock offerings for the majority of the funding drew criticism from short seller James Chanos, who has publicly bet against the company. Chanos expressed concern that investors seemed hesitant to participate in the preferred offerings, which are tailored for income-seeking and higher-risk investors. Despite Chanos’s remarks, Strategy has already raised $5.6 billion in 2025 through the initial public offerings of these securities, accounting for 12% of all US IPOs this year. Supporters of Strategy argue that there is significant demand for these assets in the market.
Overall, Strategy’s continued commitment to Bitcoin and its strategic approach to financing its acquisitions demonstrate the company’s confidence in the long-term potential of the digital asset. With a substantial Bitcoin holding and a diversified funding strategy, Strategy remains a key player in the evolving landscape of corporate investment in cryptocurrencies.