Strategy deployed another $217.4 million into Bitcoin this week, acquiring 1,955 BTC as the market debated the implications of a softening labor market and the Fed’s next move.
Summary
- Strategy purchased 1,955 BTC worth $217 million, lifting its total holdings to 638,460 BTC valued above $71 billion.
- The buy was funded through at-the-market equity offerings, showing its stock-to-Bitcoin strategy.
- Michael Saylor framed the move as a hedge against fiat erosion, while BlackRock’s Larry Fink echoed growing institutional acceptance
Bitcoin (BTC) climbed 1.4% to over $112,600 Monday, with its rally fueled by robust institutional accumulation that continues to counterbalance sell pressure from large holders.
The move aligns with a broader crypto market uptick and appears to be supported by recent corporate treasury moves, including a significant $217 million purchase by business intelligence firm Strategy.
According to a September 8 Form 8-K filing with the U.S. Securities and Exchange Commission, the Tysons Corner, Virginia-based company funded the purchase entirely using net proceeds from its active at-the-market equity offering programs.
The purchase, executed at an average price of $111,196 per Bitcoin, happened between September 2 and September 7, pushing the company’s total holdings to a staggering 638,460 BTC, valued at over $71 billion at current market rates.
Why Strategy keeps buying Bitcoin
By using ATM equity offerings to fund Bitcoin purchases, Strategy has turned its stock into a pipeline for accumulating digital assets, allowing it to scale its holdings without straining day-to-day operations.
Speaking to CNBC on Monday, Chairman Michael Saylor framed the company’s ongoing accumulation in macroeconomic terms. He argued that bitcoin’s scarcity is a hedge against the erosion of purchasing power in fiat currencies, a theme he has returned to repeatedly since Strategy’s initial pivot in 2020.
“Bitcoin is the apex asset of the 21st century,” Saylor told the network, adding that the current mix of weakening labor data and looming rate cuts only strengthens the case for holding a non-sovereign monetary asset.
Saylor’s conviction comes at a time when other influential voices in finance are also warming to bitcoin. BlackRock chief executive Larry Fink, once a skeptic, told the Harvard Business Review earlier this year that he now sees bitcoin as “digitizing gold on a global scale.”
Fink noted that institutional interest has shifted from curiosity to serious allocation discussions, with bitcoin increasingly viewed as a legitimate store of value rather than a speculative instrument. That shift in tone from Wall Street’s largest asset manager underscores how Strategy’s high-conviction play is no longer isolated from mainstream financial currents.
Still, Strategy’s strategy carries risks. Its holdings represent more than 3 percent of bitcoin’s circulating supply, a concentration that ties the company’s fortunes closely to the volatile crypto market.
The bet assumes that Bitcoin will continue to appreciate and capital markets will remain receptive to financing the purchases through equity issuance. While Saylor and his supporters frame this as visionary treasury management, skeptics argue it leaves shareholders overly exposed to a single asset class that remains subject to regulatory, technological, and geopolitical shocks.
