- The strategy purchased 3,273 bitcoins for $2.55 billion, increasing its holdings to over 818,000.
- The company currently controls nearly 4% of the total Bitcoin supply.
- Growing institutional demand has raised concerns about future supply shortages.
Strategy is back, with 3,273 new additions. Last week, the company spent approximately $255 million on Bitcoin, and now it appears less like a simple accumulation and more like a long-term strategic move. The company currently holds a staggering 818,334 Bitcoin, worth about $64 billion at current prices—this... represents a significant portion of the entire market.
With each purchase, the question is no longer whether they will continue to buy, but how much supply is actually left to absorb.
A strategy driven by its own stock
Interestingly, and somewhat unusually, the source of funding for these acquisitions. The most recent acquisition was financed through Strategy’s “at-the-market” stock sale program, meaning the company was essentially selling shares to raise funds, which it then used to purchase more Bitcoin.
This is a self-reinforcing cycle: investor demand drives stock sales, and those stock sales provide funding for investors to buy Bitcoin, which in turn reinforces the company’s image as a business primarily focused on Bitcoin trading. Whether this cycle can continue indefinitely is another question, but for now, it clearly works.
Yield metrics and growing exposure
The strategy report also shows that Bitcoin’s year-to-date return has risen to 9.6%, up from 5.6% a week ago, indicating that the company is actively measuring performance beyond just price appreciation.
Meanwhile, its average purchase cost is approximately $75,537 per Bitcoin, slightly below the current market level, meaning the position is currently profitable on paper.
The market senses a tightening supply.
More importantly, this hoarding behavior could impact the entire market. Strategy alone holds nearly 4% of the total Bitcoin supply, and ETFs are steadily absorbing more, causing available liquidity to begin tightening.
Galaxy Digital CEO Mike Novogratz recently pointed out that this trend could lead to supply shortages, with demand far outstripping supply, inevitably pushing prices higher.
A high-probability, market-moving bet
Despite active buying, the stock performance of Strategy has been mixed, with a slight gain year-to-date but a significant decline over the past 12 months. This disconnect suggests that even when the underlying asset is trending upward, this investment strategy can still be highly volatile.
Nevertheless, the company has not slowed down, and its strategy is becoming one of the most influential forces in Bitcoin's market structure. If this pace continues, its impact will extend beyond strategy alone—balance sheet—affecting how the entire market operates.