What happened?
Strategy bought 196 BTC between September 22 and September 28, 2025 for about $22.1 million at roughly $113,048 per coin. That brings its total holdings to 640,031 BTC, acquired for an aggregate price of about $47.35 billion and an average cost of about $73,983 per coin. The purchase continues the company’s long-running plan to steadily accumulate Bitcoin and average up its cost basis.
Who does this affect?
Shareholders of Strategy are directly affected because the company’s treasury mix and balance sheet exposure to Bitcoin just increased. Institutional investors, other corporations considering crypto as a treasury asset, and Bitcoin traders watch these buys as a signal of confidence and potential price support. Smaller investors and market participants may see increased volatility or trend-following flows as others react to Strategy’s headline-grabbing accumulation.
Why does this matter?
Large, repeated corporate purchases like this reduce available supply and can put medium-to-long-term upward pressure on Bitcoin’s price by removing coins from circulation. Strategy’s size and consistency make it a market benchmark, so its actions can influence institutional adoption, ETF flows, and broader investor sentiment. That can lead to greater market stability over time but also larger swings when the company issues equity or debt to fund buys, so traders and policymakers should take note.