The company formerly known as MicroStrategy made its biggest purchase of Bitcoin in six months.
Strategy (NASDAQ: MSTR), the business intelligence firm that has become popular for its massive Bitcoin treasury, has revealed its largest Bitcoin purchase since July despite the cryptocurrency’s sharp decline below $90,000.
Strategy marks biggest Bitcoin purchase in months
On November 17, Strategy’s executive chairman, Michael Saylor, confirmed that the Virginia-based company had purchased an additional 8,178 Bitcoin for approximately $835.6 million over the past week.
The Bitcoin holding company paid an average price of $102,171 per Bitcoin. This massive acquisition comes just weeks after a smaller purchase of 397 BTC for $45.6 million in early November.
This purchase extends Strategy’s position as the world’s largest corporate Bitcoin holder. The company now holds 649,870 BTC acquired for roughly $48.37 billion at an average cost of $74,433 per coin.
For context, Marathon Digital Holdings, the company ranked second on the list of corporate Bitcoin holders, holds 53,250 BTC – less than 10% of Strategy’s massive treasury.
Bitcoin market plunge creates “extreme fear”
Strategy’s aggressive buying contrasts sharply with the current market sentiment.
Bitcoin has experienced a dramatic reversal from its October peak of $126,250, plunging below $90,000 on November 18 and effectively erasing its 2025 gains.
BTC is down over 10% over the last seven days. (Image Source: TradingView)
The current market conditions present significant challenges for Strategy and corporate Bitcoin holders generally:
- Immediate Paper Losses: Strategy’s recent purchase at $102,171 per BTC has already lost value with Bitcoin’s plunge to $90,000, representing a paper loss of approximately 11.9% on the latest acquisition.
- Portfolio Pressure: Standard Chartered has estimated that a fall in Bitcoin’s price below $90,000 could leave half of all corporate Bitcoin holdings “underwater.” Listed companies collectively hold 4% of all Bitcoin in circulation.
- Amplified Volatility: Strategy’s stock now moves closely with Bitcoin. Over the past four months, its value fell 56%. On November 17, the share price hit $192, its lowest point since late 2024, wiping out roughly $72 billion in market value.
Confidence Amid the Storm
Despite market pressures, Michael Saylor remains confident. He directly refuted rumors of MicroStrategy selling its Bitcoin. In a CNBC interview, he stated, “We are buying bitcoin,” adding that the company would, in fact, accelerate its purchases.
He advises a long-term view. Saylor believes Bitcoin’s core strengths and rising institutional demand will ultimately prevail.
This outlook is supported by the company’s position. Although prices have fallen, Strategy’s overall holdings are still in profit. The company’s average purchase price is reported to be around $74,433.
