In an impressive show of confidence in the cryptocurrency space, Bitcoin treasury management firm Strategy recently announced its 100th acquisition of Bitcoin, purchasing an additional 593 BTC. This acquisition, valued at approximately $39.8 million, highlights the firm’s unwavering commitment to digital assets since it began collecting Bitcoin in 2020.
Michael Saylor, co-founder and chairman of Strategy, took to X to share the news of this significant milestone. While this specific purchase may not stand out in scale compared to previous acquisitions, the fact that it marks the 100th transaction for the firm holds symbolic weight in the world of cryptocurrency.
Since its inception, Strategy has showcased remarkable buying power and foresight, making only one sale—an outlier transaction completed in December 2022 at the lowest point of the previous market cycle. This pattern reinforces Strategy’s strong bullish sentiment toward Bitcoin, with acquisitions becoming increasingly frequent over time.
With the completion of its 100th purchase, Strategy’s total Bitcoin holdings have surged to 717,722 BTC, amounting to nearly 3.6% of Bitcoin’s circulating supply. However, despite this impressive stash, the market conditions have cast a shadow on the firm’s overall valuation, with its Bitcoin reserve now valued at approximately $46.48 billion—down nearly 15% from the $54.56 billion invested.
The company’s recent acquisitions have followed a trend of buying at or near local market tops, and this latest purchase seems to align with that pattern, as Bitcoin has dipped approximately 4% from the acquisition cost basis, which stands at $67,286 per token.
According to documents submitted to the US Securities and Exchange Commission (SEC), this latest acquisition occurred between February 17 and 22 and was funded through the firm’s at-the-market (ATM) stock offering program from its publicly traded entity, MSTR.
With each successive purchase, Strategy continues to reinforce its title as the preeminent Bitcoin treasury company globally, a position well-documented on platforms like BitcoinTreasuries.net. In this renewed race for digital asset supremacy, Strategy holds the title not just as the largest Bitcoin holder but also as the foremost public digital asset treasury company overall.
In contrast, the second place is held by Bitmine, which has recently expanded its treasury strategy to accumulate Ethereum, amassing over 4.4 million ETH—roughly 3.66% of the circulating supply—with a notable focus on staking as reported by their chairman.
Market Overview
As of the latest market developments, Bitcoin is priced at approximately $65,100, reflecting a decline of more than 4% over the past week, underscoring the current volatility in the market.
