Strategy’s Latest Bitcoin Acquisition: Funding Through Equity Sales

The publicly traded company Strategy continues to aggressively execute its corporate Bitcoin strategy, utilizing capital market mechanisms to fuel its purchases. A recent corporate update reveals the acquisition of over a thousand additional coins, financed directly through the sale of its own stock. This move presents shareholders with increased exposure to the cryptocurrency, but also introduces potential equity dilution.

The Scale of the Recent Purchase

According to a disclosure made on February 9, Strategy purchased a total of 1,142 Bitcoin between February 2 and February 8. The company spent approximately $90 million on this tranche, resulting in an average price of $78,815 per Bitcoin, inclusive of fees and expenses.

This latest acquisition brings the firm’s total holdings to 714,644 Bitcoin as of February 8. Strategy reports that its cumulative expenditure on Bitcoin now stands at $54.35 billion, translating to an average entry price of $76,056 per coin.

Key Figures at a Glance:
* Recent Purchase: 1,142 BTC (Feb. 2–8)
* Purchase Amount: ~$90 million at an average of $78,815/BTC
* Total Holdings: 714,644 BTC (as of Feb. 8)
* Total Cost: $54.35 billion cumulative, averaging $76,056/BTC

The Funding Mechanism and Its Implications

The company financed this $90 million purchase through its ongoing at-the-market (ATM) offering program for its Class A common stock. During the same February 2-8 period, Strategy sold 616,715 shares, generating net proceeds of roughly $89.5 million.

This highlights the core mechanism of Strategy’s approach: directly linking the expansion of its Bitcoin treasury to equity capital raises. For investors, this offers a simplified, exchange-traded avenue to gain Bitcoin exposure. The trade-off, however, is the possibility of share dilution as new stock enters the market.

Should investors sell immediately? Or is it worth buying Strategy?

The company also noted it did not issue any preferred shares during this period. Strategy maintains significant remaining capacity for future issuances across several preferred stock series:
* STRF: $1.62 billion
* STRC: $3.62 billion
* STRK: $20.33 billion
* STRD: $4.01 billion

Furthermore, the ATM program for its common stock still has approximately $7.97 billion in available capacity.

Trading as a Bitcoin Proxy

Since its rebranding in August 2025 (formerly MicroStrategy), Strategy’s equity is frequently traded as a public market proxy for Bitcoin exposure. This is particularly relevant for institutional investors seeking indirect access to the cryptocurrency through a regulated security.

Reflecting this dynamic, the stock remains highly volatile. Shares closed at €115.90 on February 9 and are currently trading around €112.00. Over a 30-day period, the stock has declined by 19.42%.

In its disclosure, Strategy emphasized that it maintains a public online dashboard documenting all purchases, holdings, and securities activities. The company also included a standard legal disclaimer, noting that the information in the update is not considered “filed” under Section 18 of the Securities Exchange Act, clarifying its formal status within U.S. reporting requirements.