Strategy executive chair Michael Saylor revealed on X today that the company has acquired another 2,932 BTC for roughly $264.1 million, paying an average price of about $90,061 per coin.
The latest purchase pushes Strategy’s total Bitcoin reserves to 712,647 BTC as of Jan. 25, 2026, according to the post.
The company’s cumulative investment now stands at $54.19 billion, with an average purchase price of $76,037 per BTC.
Strategy Extends Its Long-Term Accumulation Playbook
The latest buy continues a pattern of steady, high-conviction accumulation that has defined Strategy’s identity for years.
Even as Bitcoin trades below recent record highs and volatility continues to shake broader risk markets, Saylor and his team have maintained their view that BTC offers unmatched long-duration strength compared to traditional asset classes.
The firm typically finances its acquisitions through a blend of equity issuance, debt offerings, and cash flow from operations. This multi-channel funding model has allowed it to scale its BTC position aggressively while maintaining its long-term thesis that digital scarcity will outperform legacy stores of value over time.
Market Context: A Corporate Arms Race for BTC
Bitcoin’s trading range in early 2026 has been defined by choppy sentiment and macro crosswinds. This has seen the price of the largest crypto by market cap plunge over 5% in the past week. Yet Strategy’s actions suggest it sees this environment as fertile ground rather than a warning sign.
Saylor has repeatedly positioned Bitcoin as the “apex monetary asset,” a narrative that continues to resonate among institutions seeking alternatives to inflation-sensitive fiat assets.
The latest accumulation also comes as crypto-treasury strategies gain traction globally.
Japanese Bitcoin treasury firm Metaplanet, for instance, recently raised its revenue forecasts for 2025 and 2026 even as it prepares to post a deep 2025 loss tied to a nearly $700 million Bitcoin write-down. The company says its growing Bitcoin income business more than offsets the short-term accounting hit.
A High-Conviction Bet in a Volatile Cycle
Strategy’s average cost basis of $66,037 remains comfortably below current market prices, giving the company a sizable unrealized gain even as Bitcoin consolidates.
But the firm is equally aware that such a large position exposes it to amplified swings in a highly reflexive market. Despite this, Saylor has shown no indication of slowing down, frequently characterizing each market dip as an opportunity to strengthen the firm’s digital treasury.
According to the company’s website, Strategy has purchased Bitcoin for 6-consecutive weeks now. The largest purchase during this period was made last week, when the firm acquired 22,305 BTC for approximately $2.125 billion.
Source: https://coinpaper.com/14034/strategy-pushes-btc-holdings-to-712-647-after-new-264-m-buy
