Michael Saylor’s company, Strategy, has reinforced its position as the world’s leading corporate Bitcoin holder with two significant purchases in October 2025, continuing its aggressive accumulation strategy funded through innovative capital-raising methods.
October’s Bitcoin Acquisitions
Strategy added a total of 558 Bitcoin to its treasury in October through two separate transactions. The most recent purchase occurred between October 20 and October 26, where the company acquired 390 BTC for approximately $43.4 million, at an average price of $111,117 per bitcoin. This followed a purchase the prior week of 168 BTC for about $18.8 million.
With these latest acquisitions, Strategy’s total holdings have reached 640,808 BTC. The company’s total investment in Bitcoin now stands at approximately $47.4 billion, with an average purchase price of $74,032 per coin. At current prices around $115,379, the company’s Bitcoin stash is worth about $74 billion, representing paper gains of nearly $26.6 billion and accounting for over 3% of Bitcoin’s total 21 million supply.
The Funding Strategy and the “42/42” Plan
Strategy funded these purchases not through its common stock, but primarily through the sale of various perpetual preferred stock series, demonstrating a sophisticated approach to capital raising. The sales included:
-
STRK: 191,404 shares sold for ~$17 million (8% non-cumulative dividend).
-
STRF: 175,634 shares sold for ~$19.4 million (10% cumulative dividend).
-
STRD: 87,462 shares sold for ~$7 million (10% non-cumulative dividend).
This is part of the company’s ambitious “42/42” capital plan, which targets raising a total of $84 billion through equity offerings and convertible notes by 2027 specifically for Bitcoin acquisitions. The company still has substantial capacity remaining across its various stock programs to continue this strategy.
A Corporate Leader in a Growing Trend
Michael Saylor often teases these acquisitions in advance on social media by declaring an “Orange Dot Day,” a practice that has become a well-known market signal. His philosophy is that Bitcoin serves as a vital long-term hedge against economic instability, a view that is gradually gaining traction in the corporate world.
Strategy remains the largest of 190 public companies that have now adopted a Bitcoin treasury model. Other notable corporate holders include MARA (53,250 BTC), Tether-backed Twenty One (43,514 BTC), and Metaplanet (30,823 BTC). Despite this growing adoption, shares of many Bitcoin treasury companies, including Strategy, have fallen significantly from their summer peaks. Saylor has stated that the company’s capital structure is designed to withstand a 90% drop in Bitcoin’s price that persists for years, though he acknowledges shareholders would “suffer” in such a scenario.
