Finance

Michael Saylor’s Strategy Scoops Up 397 Bitcoin, Bolstering Holdings to 641,205 BTC

Strategy acquired 397 more Bitcoin for $45.6M, funded by equity offerings, totaling 641,205 BTC.

byAndres Castro

November 3, 2025, 5:07 PM

A graph depicts the fluctuating value of Bitcoin and other cryptocurrencies.

As the value of Bitcoin fluctuates, investors watch the cryptocurrency market with bated breath. By MDL.

Executive Summary

Strategy acquired an additional 397 Bitcoin for $45.6 million between October 27 and November 2, funded by $69.5 million from equity offerings.

The latest acquisition brings Strategy’s total Bitcoin holdings to 641,205 BTC as of November 2, purchased at an aggregate cost of $47.49 billion, averaging $74,057 per Bitcoin.

Strategy consistently funds its Bitcoin purchases through active at-the-market (ATM) equity programs, with approximately $46.2 billion in remaining capacity across various share types.

The Story So Far

Michael Saylor’s Strategy consistently pursues an aggressive long-term Bitcoin accumulation strategy, primarily funding its acquisitions by leveraging various at-the-market equity programs to expand its substantial digital asset portfolio.

Why This Matters

Strategy’s continued aggressive Bitcoin accumulation, consistently funded through substantial equity offerings, reinforces its unwavering conviction in Bitcoin’s long-term value and establishes a significant, sustained demand source from a major institutional player. This strategy not only expands Strategy’s digital asset portfolio but also provides a continuous bullish signal for the broader crypto market, demonstrating a unique and influential model for corporate treasury management in the digital age.

Who Thinks What?

Michael Saylor’s Strategy holds the viewpoint that aggressive Bitcoin accumulation is a core objective, continuously expanding its substantial digital asset portfolio.

Michael Saylor’s Strategy’s approach is to consistently leverage various equity offerings, including preferred and common stock, as the primary funding mechanism for its ongoing Bitcoin acquisitions.

Michael Saylor’s Strategy announced on Monday that it acquired an additional 397 Bitcoin for $45.6 million, continuing its consistent bi-weekly accumulation strategy. The purchases, made between October 27 and November 2, were funded by approximately $69.5 million generated from various equity offerings during the same period.

The latest Bitcoin acquisition was made at an average price of $114,771 per coin. This brings Strategy’s total Bitcoin holdings to 641,205 BTC as of November 2, purchased at an aggregate cost of $47.49 billion, equating to an average price of $74,057 per Bitcoin, including fees and expenses.

Funding Strategy

Strategy consistently funds its Bitcoin purchases through its active at-the-market (ATM) equity programs, which include offerings of both preferred and common stock. This financial mechanism allows the company to raise capital to expand its digital asset reserves.

During the week of the Bitcoin purchase, Strategy executed several equity sales. The company sold 76,017 STRF preferred shares for $7.6 million in face value, generating $8.4 million in proceeds. Additionally, 49,374 STRK preferred shares were sold for $4.9 million, yielding $4.4 million in proceeds.

Further sales included 29,065 STRD preferred shares for $2.9 million, which generated $2.3 million. The company also sold 183,501 MSTR common shares, bringing in $54.4 million in proceeds.

As of early November, Strategy reported significant remaining capacity under its active ATM programs. This includes approximately $1.7 billion for STRF, $4.2 billion for STRC, $20.3 billion for STRK, $4.1 billion for STRD, and $15.9 billion for MSTR.

Key Takeaways

Strategy continues its aggressive Bitcoin acquisition strategy, consistently leveraging equity offerings to expand its substantial digital asset portfolio. The company’s ongoing capital raises ensure a steady funding pipeline for its long-term Bitcoin accumulation goals.