Michael Saylor’s Strategy Inc. (NASDAQ: MSTR) has purchased an additional 397 BTC for approximately $45.6 million, marking another week in its ongoing Bitcoin accumulation campaign. The latest filing with the U.S. Securities and Exchange Commission (SEC) confirms the purchase occurred between October 27 and November 2, at an average price of $114,771 per BTC.
As per Saylor’s X post, the acquisition brings MSTR’s total holdings to 641,205 BTC, acquired for roughly $47.49 billion at an average cost of $74,057 per coin. Strategy’s Bitcoin yield for 2025 now stands at 26.1%, solidifying its position as the largest corporate holder of the asset.
The buy continues what has become a weekly ritual for Saylor’s firm, which frequently posts new Bitcoin acquisitions every Monday. This consistency reflects Strategy’s systematic approach that treats Bitcoin not as speculation but as its primary treasury reserve asset.
Saylor’s Capital Stack Strategy
The latest purchase follows Strategy’s Q3 report, where the company posted a $2.8 billion profit, driven largely by Bitcoin’s appreciation.
Despite short-term stock volatility, Saylor funds new purchases through a complex structure of perpetual preferred stock, branded as Strike, Strife, Stride, and Stretch, each designed to attract different investor profiles through tailored yields ranging from 8% to 12.5%.
The firm’s SEC filing shows active trading of its preferred stock under multiple at-the-market (ATM) programs, raising roughly $69.5 million between October 27 and November 2.
While Strategy’s common shares (MSTR) remain volatile, often tracking Bitcoin’s price, the company has maintained disciplined capital deployment.
Weekly Purchases, Rising Investor Attention
Saylor’s latest post comes as Bitcoin trades around $107,000, reflecting a mild correction after recent gains.
Strategy’s accumulation chart shows a near-unbroken climb in Bitcoin holdings through 2025, with purchases continuing despite market swings and BTC price pressure. This reinforces the company’s long-term commitment to Bitcoin as a balance-sheet asset rather than a trade.
The firm’s growing treasury has turned its filings into a recurring gauge of institutional Bitcoin exposure.
The Takeaway
MSTR’s stock performance reflects that pressure. Shares have fallen about 32% over the past six months, currently trading near $260.
The downturn also highlights the risks tied to Bitcoin-heavy corporate strategies, where treasury performance often tracks crypto market swings. Each filing adds to the discussion around how corporations manage digital assets, using a structure that mixes continuous Bitcoin purchases with conventional financing tools.
Saylor has maintained that converting corporate cash into Bitcoin is a rational response to monetary inflation.
How that strategy fares against conventional treasury models will depend on Bitcoin’s resilience in a constrained liquidity environment. As Saylor said on X, “Orange is the color of November.”