Strategy Buys Bitcoin: Milestone Purchase and Market Impact

In a landmark move for corporate crypto adoption, Strategy (formerly MicroStrategy) has completed its 100th Bitcoin acquisition, reinforcing its status as the largest corporate holder of Bitcoin in the world. The company purchased 592 BTC for $39.8 million, paying an average price of $67,286 per Bitcoin.

Led by Executive Chairman Michael Saylor, Strategy’s aggressive Bitcoin treasury strategy continues despite ongoing volatility in the cryptocurrency market.

Strategy’s Total Bitcoin Holdings Reach 717,722 BTC

Following this latest purchase, Strategy now holds 717,722 BTC, valued at approximately $46.65 billion at current Bitcoin market prices.

However, the numbers reveal a more nuanced picture:

• Total Bitcoin acquisition cost: $54.56 billion
• Average purchase price: $76,020 per BTC
• Current unrealized loss: Approximately $8 billion

This reflects the core principle behind Michael Saylor’s long-term Bitcoin strategy: short-term volatility is secondary to long-term digital asset appreciation. Strategy’s corporate treasury model is built on the belief that Bitcoin represents superior long-term value preservation compared to traditional fiat reserves.

Despite temporary drawdowns, Strategy remains steadfast in its conviction that Bitcoin will outperform traditional assets over time.

Institutional Bitcoin Exposure: Jane Street Boosts MSTR Holdings

Institutional interest in Strategy’s Bitcoin-heavy balance sheet continues to grow. Global trading firm Jane Street has significantly increased its stake in MSTR stock, now holding 951,187 shares valued at $124 million.

This represents a staggering 473% increase in a single quarter.

Why Institutional Investors Are Buying MSTR

Many institutional investors are using MSTR stock as a proxy for Bitcoin exposure. Instead of directly holding BTC, funds gain leveraged exposure through Strategy’s equity performance.

Because Strategy’s valuation is heavily tied to its Bitcoin holdings, MSTR stock often exhibits amplified moves relative to BTC price movements.

Market observers have raised questions about possible price manipulation or coordinated positioning around key Bitcoin market inflection points. While no formal evidence supports such claims, the sharp increase in institutional positioning signals confidence in:

• Long-term Bitcoin price appreciation
• The correlation between MSTR stock and BTC
• Strategic volatility positioning

For institutional capital, MSTR offers liquidity, regulatory familiarity, and optional leverage tied to Bitcoin’s upside.

MSTR/IBIT Pair: Is It Leading Bitcoin’s Next Move?

A growing area of analysis involves the MSTR/IBIT trading pair and its potential predictive power over Bitcoin price action.

In the second half of 2025:

• MSTR/IBIT dropped from 6.80 to 3
• Shortly afterward, BTC/USD declined from $116,000 to $65,000

This sequence has led some traders to believe that MSTR/IBIT may front-run major Bitcoin price trends.

Current Technical Signals

At present:

• MSTR/IBIT appears to be forming a bottom
• Higher highs are emerging on daily timeframes
• Momentum indicators suggest potential reversal

If historical correlation holds, Bitcoin price may follow a similar recovery pattern.

For investors, this relationship is critical:

• A rise in BTC price increases the value of Strategy’s Bitcoin holdings
• Increased net asset value could drive MSTR stock higher
• Institutional positioning may amplify price movements

The interaction between Bitcoin price, MSTR stock performance, IBIT flows, and institutional capital illustrates the increasingly interconnected nature of traditional finance and digital assets.

Strategy’s Bitcoin Treasury Model: High Conviction in a Volatile Market

Strategy’s 100th Bitcoin purchase underscores a broader transformation in corporate treasury management. The company has effectively positioned itself as a publicly traded Bitcoin holding vehicle.

While critics highlight the current unrealized loss, supporters argue that:

• Bitcoin remains a scarce digital asset with fixed supply
• Institutional adoption continues expanding
• ETF products like IBIT are deepening market liquidity
• Long-term macro trends favor decentralized stores of value

Strategy’s ongoing Bitcoin acquisitions signal that it views current price levels as strategic accumulation opportunities rather than warning signs.

What’s Next for Bitcoin and MSTR?

Key factors to watch:

1. Bitcoin price reclaiming major resistance levels
2. Continued institutional inflows into Bitcoin ETFs
3. MSTR premium/discount to net asset value
4. Additional BTC purchases from Strategy

If Bitcoin enters another bullish cycle, Strategy’s leveraged exposure could significantly benefit shareholders.

However, volatility remains inherent to the crypto market, and price swings may continue as macroeconomic conditions evolve.

For now, Strategy’s 100th Bitcoin acquisition marks not just a milestone — but a clear statement: the company remains fully committed to Bitcoin as a core treasury asset.