Strategy Inc. completed a $1.25 billion purchase of 13,627 bitcoins (BTC) on January 12, 2026, using a combination of $1.1 billion in new Class A common‑stock issuance and $119.1 million in perpetual preferred equity (STRC). The deal added to the company’s already sizable digital‑asset portfolio, raising its total BTC holdings to 687,410, a 3.4% increase from the 673,783 BTC reported earlier in the year.
The acquisition was executed at an average price of $91,519 per BTC, bringing the company’s overall average cost for all holdings to $75,353 per BTC and a cumulative cost of roughly $51.8 billion. The purchase was timed to take advantage of a dip in Bitcoin’s price, allowing Strategy to acquire more BTC at a lower average cost while maintaining its strategy of using equity to fund treasury assets.
Strategy’s management has framed the transaction as a continuation of its long‑term treasury strategy, which views Bitcoin as a hedge against inflation and a tax‑deferred return vehicle. CEO Michael Saylor emphasized that borrowing cheaply against the company’s stock allows Strategy to acquire scarce digital gold, thereby amplifying shareholder exposure to Bitcoin’s upside while preserving capital for its core analytics software business.
Despite the bullish stance on Bitcoin, the company’s financial health remains mixed. Q4 2024 saw a net loss of $670.8 million, and Q4 2025 reported an unrealized loss of $17.4 billion on digital assets. Meanwhile, the enterprise analytics segment has experienced a three‑year revenue decline of 22.1%, underscoring the risk that the Bitcoin strategy may not fully offset operational challenges in the core business.
Market reaction to the announcement was muted; pre‑market trading showed little change in the company’s stock, indicating that investors had already priced in the continued accumulation of Bitcoin. The recent inclusion of Bitcoin‑treasury companies in MSCI’s global indices provided a short‑term lift, but the purchase itself was viewed as a routine extension of Strategy’s established approach.
The transaction reinforces Strategy’s position as the world’s largest corporate Bitcoin holder and signals confidence in the long‑term value of digital assets. However, the company’s ongoing losses in its software business and the volatility of Bitcoin’s price remain key risks that could influence future capital‑allocation decisions.
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