What’s Happening

Strategy—Michael Saylor’s rebranded MicroStrategy—just dropped $962.7 million on 10,624 Bitcoin. That bumps their total holdings to 660,624 BTC as of December 8, 2025. We’re talking over 3% of Bitcoin’s entire 21 million supply cap, valued at roughly $60 billion right now.

This weekly buy comes hot on a Bitcoin price rebound. BTC’s sitting around $91,000 after dipping hard last week. Saylor announced it himself on X, posting the classic orange square emoji. No surprise there—he’s been stacking like it’s his job since 2020.

Look, we’ve seen this playbook before. Strategy funds these hauls through equity raises, convertible notes, and now this rebrand to ‘Strategy’ signals they’re all-in on the Bitcoin treasury game. Shares ticked up 2% pre-market on the news, even as some shareholders grumble about dilution.

Announced December 8, 2025, per their filing and Saylor’s post. (Check the Block report for details.)

The Numbers

Breaking it down cold:

MSTR stock? Closed at $425 Friday, up 2.3% intraday on the news. Market cap’s north of $100B now, making it a de facto Bitcoin leverage play. Trading volume spiked 15% above average.

On-chain: Strategy’s wallets are public knowledge. Main one at bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh (old format equiv). No movement on that buy yet—likely custodied OTC. Total corp BTC holdings per Bitbo.io: Strategy leads by a mile over Marathon, Tesla scraps.

BTC price context: Halving was April 2024. Since then, Strategy’s added ~250K BTC. Their average buy-in this cycle? Around $65K. This one’s cheaper than recent peaks.

Why This Matters

Saylor’s not just buying Bitcoin—he’s turning a software firm into a Bitcoin bank. That 660K stack is a monster flywheel: MSTR stock premium to NAV (currently 1.7x) funds more buys, which pumps stock, rinse repeat.

For Bitcoin? Bullish AF. Nation-states watch this. If El Salvador (2.8K BTC) or others follow, demand surges. We’ve seen ETFs suck up 1M BTC since Jan 2024 approval. Strategy’s retail gateway—traders longing MSTR get 2-3x BTC beta without futures fees.

Risks? Leverage. They’ve issued $5B+ in shares/notes this year. Debt load’s $4.2B at last count, some at 0.625% convertibles. Bear market hits BTC to $40K? Impairment charges, forced sells? Nah, Saylor’s HODL vow holds so far. But shareholders sued over dilution in Oct 2024—we flagged that risk here first.

Market sentiment’s split. CT’s buzzing: Bulls scream ‘more orange dots,’ bears yell ‘Ponzi until maturity wall 2028.’ BTC dominance at 56%—this adds to altcoin pressure.

What to Watch

Key levels: BTC $88K support, $95K resistance. Break $100K by EOY? Strategy accelerates buys. MSTR NAV premium—watch if it dips below 1.5x (sell signal for arb funds).

Catalysts: Dec 11 FOMC (rate cut odds 85%). Strategy’s Q4 earnings Jan 2026—expect another $1B+ raise. Saylor’s Bitcoin MENA conference this week could drop alpha. Whale wallets: Track 1P5ZED… for moves (known Strategy cold storage).

Scenarios: Bull—BTC $120K Q1 2026, MSTR to $600. Bear—prolonged dip to $70K, premium compresses to 1.2x, stock corrects 30%.

On-chain metrics: Exchange inflows low (26K BTC/24h), HODL waves strong at 60%+. Long-term holder supply at 15M BTC ATH.

Bottom Line

Massive for Bitcoin adoption. Saylor’s proving corps can out-HODL whales. But it’s leveraged bets—great in bulls, ugly in bears. If you’re trading MSTR, size small; for BTC stackers, this just validated the thesis. We’ve covered every buy since 2020—no signs of stopping.

(Data cross-checked: CoinGecko for prices, Yahoo Finance, Strategy filings. As of Dec 9, 2025 12PM UTC.)

Frequently Asked Questions

How many Bitcoin does Strategy hold now?

Strategy holds 660,624 BTC after buying 10,624 more for $962.7M. That’s 3.15% of total supply, worth about $60B at current prices around $90,800/BTC, per their Dec 8 announcement.

What was the average price of Strategy’s latest Bitcoin purchase?

They paid an average of $90,653 per BTC for the 10,624 coins. Below recent highs but above their all-time avg cost basis of ~$39K, showing disciplined dollar-cost averaging in this cycle.

Is MicroStrategy still called MicroStrategy?

No, it’s rebranded to Strategy as of late 2025, emphasizing its Bitcoin treasury focus. Michael Saylor remains Executive Chairman; the shift ditches software branding for pure BTC play.

What’s Michael Saylor’s total unrealized gains on Bitcoin?

Roughly $33B+ unrealized at $90K/BTC, based on ~$39K avg cost across 660K coins. Gains sit at 130%+, but accounting rules mean no realization until sales—Saylor vows never to sell.

Will Strategy keep buying more Bitcoin?

Yes, pattern holds: weekly buys funded by equity/debt. They’ve raised billions this year; expect another haul soon if BTC stabilizes above $90K. Watch Q4 earnings for raise details.