Strategy has once again reinforced its conviction in Bitcoin, announcing a fresh multibillion-dollar purchase that further distances the firm from every other corporate holder in the market.
Key Takeaways
- Strategy added 22,305 BTC for about $2.13 billion, lifting its total bitcoin holdings to 709,715 BTC as of January 19, 2026.
- The latest purchase was made at an average price of $95,284 per bitcoin, while the firm’s overall average cost remains lower at roughly $75,979.
- Funding for the acquisition came entirely from capital markets, primarily through sales of common stock and preferred shares under its ATM programs.
- With more than 3% of bitcoin’s total supply under its control, Strategy remains the largest corporate holder of BTC globally.
- The aggressive accumulation strategy continues to tie Strategy’s stock performance closely to movements in the bitcoin market.
Strategy Deepens Its Bitcoin Bet
Michael Saylor-led Strategy disclosed that it acquired an additional 22,305 bitcoin between January 12 and January 19, 2026, spending approximately $2.13 billion in the process. The purchase was executed at an average price of $95,284 per coin, according to the company’s latest filing and public statements.
With this transaction, Strategy’s total bitcoin holdings have risen to 709,715 BTC, making it the first publicly known entity to cross the 700,000 BTC threshold. At current prices, the firm’s stash is valued at well over $60 billion, further cementing Strategy’s position as the largest corporate bitcoin holder in the world.
Michael Saylor confirmed the acquisition in a social media post, emphasizing the company’s long-term stance on the asset:
“Strategy has acquired 22,305 BTC for ~$2.13 billion at ~$95,284 per bitcoin. As of 1/19/2026, we hodl 709,715 $BTC acquired for ~$53.92 billion at ~$75,979 per bitcoin.”
The statement highlights not just the scale of the purchase, but also Strategy’s overall cost basis, which remains significantly below current market levels due to years of earlier accumulation.
A Treasury Strategy Built on Bitcoin
Strategy’s latest buy is its largest since November 2024 and ranks as the fifth-biggest bitcoin acquisition in the company’s history. The move aligns with a pattern that has become familiar to market participants: raising capital through traditional financial instruments and converting that capital into bitcoin, regardless of short-term price fluctuations.
Since 2025, Strategy has added bitcoin to its balance sheet in more than 40 separate weeks, underlining a methodical and persistent approach rather than opportunistic buying. Even though this most recent batch was acquired at prices slightly above prevailing market levels, the company’s average acquisition cost still stands at about $75,979 per BTC.
That disciplined accumulation has allowed Strategy to control more than 3% of bitcoin’s total fixed supply, a level of concentration unmatched by any other publicly traded firm.
How the $2.13 Billion Purchase Was Funded
The funding for the January acquisition came entirely from capital markets activity. Regulatory disclosures show that Strategy raised roughly $2.125 billion during the same period through its at-the-market (ATM) programs, combining common equity and preferred stock issuance.
The majority of the funds—about $1.83 billion—came from the sale of roughly 10.4 million Class A common shares (MSTR). An additional $294.3 million was raised through the issuance of 2.95 million STRC variable-rate perpetual preferred shares. Smaller amounts were sourced from STRK preferred stock, while no capital was raised under the STRF or STRD programs.
All net proceeds from these offerings were directed toward bitcoin purchases, maintaining Strategy’s long-standing policy of channeling financing activity directly into BTC exposure rather than operational expansion or acquisitions.
Market Reaction and Investor Perspective
Despite the headline-grabbing size of the purchase, Strategy’s stock reacted negatively in the immediate aftermath of the announcement. Shares fell by roughly 5% in premarket trading, reflecting ongoing concerns among some investors about dilution and the firm’s increasing dependence on bitcoin price movements.
Over the years, Strategy’s equity has effectively become a liquid proxy for bitcoin exposure, particularly for institutional investors that prefer to avoid direct custody of digital assets. While this has attracted a dedicated shareholder base aligned with Saylor’s thesis, it has also made the company’s stock highly sensitive to crypto market volatility.
The latest acquisition once again tightens the link between Strategy’s valuation and bitcoin’s performance, a dynamic that has defined the stock’s trajectory since the company first adopted Bitcoin as its primary treasury reserve asset.
Institutional Accumulation Continues
Strategy’s January purchase comes at a time when institutional interest in bitcoin remains resilient, even amid periods of market turbulence. While price action has been uneven in recent weeks, large holders continue to add to their positions, signaling confidence in bitcoin’s long-term role as a monetary asset.
For Strategy, the logic remains unchanged. The firm views bitcoin as a superior store of value compared to cash and short-term securities, particularly in an environment where currency debasement and sovereign debt concerns persist. Each new acquisition reinforces that thesis, regardless of near-term market sentiment.
By pushing its holdings beyond 709,000 BTC, Strategy has not only expanded its balance sheet but also strengthened its influence within the broader bitcoin ecosystem. Few companies have demonstrated such consistency—or scale—in their commitment to the asset.
Looking Ahead
As of January 19, 2026, Strategy’s bitcoin treasury stands as one of the most concentrated corporate positions in financial history. Whether this approach ultimately delivers outsized returns or heightened risk will continue to depend on bitcoin’s long-term trajectory.
For now, the message from Strategy is clear: price levels, market cycles, and short-term reactions are secondary. The company remains firmly committed to accumulating bitcoin whenever access to capital allows, reinforcing its reputation as bitcoin’s most outspoken and aggressive corporate advocate.
