Bitcoin's Age of Institutional Reserves: Strategy’s $100 Million Drive Toward $47 Billion

Strategy, recognized as the world’s foremost corporate

holder, expanded its Bitcoin (BTC) reserves by 850 coins during the week ending September 21, 2025, spending a total of $99.7 million. This transaction, disclosed through a filing with the U.S. Securities and Exchange Commission (SEC), increased the company’s overall Bitcoin stash to 639,835 BTC. At an average cost of $73,971 per Bitcoin, these holdings are valued at about $47.33 billion Strategy Adds $99.7M Bitcoin Amid Multi-Week Price Surge [ 1 ]. The acquisition took place as Bitcoin’s price surged to multiweek highs above $117,000, with the average price paid for this tranche coming in at $117,344 per coin Strategy Acquires 850 Bitcoin in $99.7 Million Purchase Amid … [ 2 ].

This latest purchase was financed through proceeds generated from at-the-market offerings of Strategy’s Class A common stock (MSTR) and its perpetual preferred shares (STRF), forming part of its broader capital-raising strategy. The company operates several ATM programs across its different equity classes, including a $21 billion capacity for its

preferred stock, which can be converted and offers an 8% non-cumulative dividend Strategy increased its BTC holdings by 850 coins last week, with … [ 3 ]. These capital programs are key to Strategy’s of accumulating Bitcoin as a reserve asset. CEO Michael Saylor has consistently described Bitcoin as both a safeguard against currency debasement and a foundational tool for institutional treasury management Strategy Stock Pares Early Morning Losses On Biggest 2025 … [ 4 ].

Saylor also pointed to the ongoing trend of institutional entry into the Bitcoin space, observing that volatility has diminished as larger investors participate. In a recent interview, he commented, “The paradox is, as major institutions come in and volatility drops, things might get dull for a period,” Strategy Adds $99.7M Bitcoin Amid Multi-Week Price Surge [ 1 ]. This trend is supported by data from blockchain analytics, showing that over 72% of all Bitcoin in circulation is now held in wallets with little trading activity, easing immediate selling pressure Strategy Acquires 850 Bitcoin in $99.7 Million Purchase Amid … [ 2 ].

Compared to earlier in 2025, this purchase signals a deceleration in Strategy’s rate of accumulation. The company bought 3,330 BTC in September 2025, a decrease from the 7,714 BTC acquired in August and the 31,466 BTC added in July Strategy Adds $99.7M Bitcoin Amid Multi-Week Price Surge [ 1 ]. Analysts believe this slower pace is due to shifting market conditions and the firm’s increasing preference for raising capital through preferred equity rather than through common shares. Even so, Strategy’s ongoing acquisitions have helped propel Bitcoin to its strongest September performance ever, defying historical seasonal weakness Strategy Acquires 850 Bitcoin in $99.7 Million Purchase Amid … [ 2 ].

Institutional appetite for Bitcoin has also been strengthened by greater regulatory transparency and the rapid growth of spot Bitcoin ETFs. The U.S. Federal Reserve’s 25 basis point rate cut in September 2025 further encouraged investments into crypto-related assets, with ETFs serving as a conduit for traditional investors Bitcoin Price 2025 and Institutional Flows Drive Market Dynamics [ 8 ]. Saylor characterizes Bitcoin as a $200 trillion asset class and has pointed to executive actions—such as President Trump’s order to create a national Bitcoin Strategic Reserve—as key drivers for worldwide adoption Strategy Stock Pares Early Morning Losses On Biggest 2025 … [ 4 ].

The evolution from retail-driven trading to institutional treasury management is increasingly evident in Bitcoin’s price movements. By September 21, 2025, Bitcoin was trading close to $105,000, consolidating after peaking above $117,000. Analysts have noted that liquidity shortages and tighter regulations—such as Nasdaq’s new rules requiring shareholder approval for equity sales intended for crypto acquisitions—might limit further Bitcoin accumulation by corporate treasuries Bitcoin Institutional Demand Softens Despite Record Holdings [ 10 ]. Nonetheless, Strategy’s persistent purchases highlight Bitcoin’s expanding status as a reserve asset, with institutions now holding upwards of 3% of the entire circulating supply Strategy adds 850 bitcoin for $100 million as total holdings reach ... [ 6 ].