Strategy’s Final 2025 BTC Splurge: $109M Purchase Cements Dominance

• Why Did Strategy’s Final 2025 BTC Purchase Make Waves?
• How Did Strategy Dominate Corporate BTC Buying in 2025?
• What’s the Deal With MSTR’s Underperformance?
• Will Strategy’s Playbook Survive 2026?
• Corporate BTC Holdings: The 2025 Report Card
• FAQs: Decoding Strategy’s Bitcoin Gambit

In a bold closing move for 2025, Strategy has added 1,229 BTC to its treasury for $108.8 million, capping a year where it emerged as the undisputed leader in corporate bitcoin accumulation. With an average buy price of $88,568 per BTC, the firm now holds 672,497 BTC valued at over $58 billion—outpacing its own market cap. Meanwhile, Michael Saylor’s playbook faces dilution headwinds as MSTR stock struggles to reflect BTC’s gains. Here’s the breakdown of Strategy’s landmark year and what it means for the corporate BTC arms race.

Why Did Strategy’s Final 2025 BTC Purchase Make Waves?

On December 28, 2025, Strategy executed its last Bitcoin purchase of the year—a “modest” 1,229 BTC for $108.8 million. While smaller than recent weekly buys (which exceeded 10,000 BTC), this transaction pushed Strategy’s total holdings to 672,497 BTC, acquired at an average of $74,997 per coin. The move came after the company raised $2.1 billion through MSTR stock sales, reaffirming its commitment to what Saylor calls “orange dot” accumulation. Notably, Strategy’s BTC stash now exceeds its $49 billion market cap, creating a curious valuation gap that’s got traders scratching their heads.

How Did Strategy Dominate Corporate BTC Buying in 2025?

Data from CoinMarketCap reveals Strategy accounted for nearly 62% of all corporate BTC acquisitions this year, averaging 641 BTC daily. The company’s relentless buying—fueled by stock offerings and debt—has raised the bar for treasury holdings. Entering the top 100 corporate BTC holders now requires at least 148 BTC, up from just 23 BTC at 2024’s close. While 17 other firms mimicked Strategy’s playbook, none matched its scale. Total corporate holdings reached 1,089,345 BTC by year-end, with mining and sporadic purchases contributing to the growth.

What’s the Deal With MSTR’s Underperformance?

Despite BTC’s 23.2% YTD gain, MSTR shares languish NEAR 12-month lows at $158.44 (up slightly from $154.12). The disconnect stems from dilution fears—the firm issued 663,450 new shares to fund recent buys. As Michael Saylor quipped during a BTCC Spaces chat: “The market’s pricing us like a tech stock when we’re basically a Bitcoin ETF with a MBA.” Analysts note MSTR historically amplified BTC gains, but the multiplier effect collapsed in 2025 as shares traded at a 58% discount to BTC-backed value.

Will Strategy’s Playbook Survive 2026?

Industry watchers debate whether Strategy’s model remains sustainable. The firm has paused convertible notes and preferred share sales, focusing on common stock—a MOVE that’s kept dilution manageable but limited funding. “They’re playing the long game,” noted a BTCC market strategist. “If BTC hits $120K, that $50B cost basis will look genius.” Meanwhile, smaller firms like STRK and STRE are testing modified versions of the playbook, albeit with tighter risk controls.

Corporate BTC Holdings: The 2025 Report Card