Strategy has increased its USD Reserve by $300 million to $1.4 billion and bought another 520 BTC, extending its Bitcoin accumulation while strengthening the cash buffer behind its preferred-stock and digital-credit structure.
Michael Saylor said Strategy acquired 520 BTC for $35 million, increasing the company’s Bitcoin Reserve to 847,363 BTC. The latest purchase implies an average price near $67,300 per bitcoin, keeping Strategy active even as BTC remains trapped near the mid-$60,000 range.
Bitcoin recently traded near $64,677, putting Strategy’s total BTC stack at roughly $54.8 billion at current prices. The position represents just over 4% of Bitcoin’s fixed 21 million supply, keeping Strategy far ahead of every other public corporate holder.
The company’s aggregate cost basis remains much higher than spot price. Strategy’s recent disclosures placed its average purchase price near $75,650 per BTC, leaving the treasury roughly $9.3 billion below aggregate cost at current Bitcoin prices. That unrealized gap has kept the market focused on funding quality, preferred-share obligations and whether continued accumulation improves or dilutes BTC exposure for common shareholders.
The larger update is the USD Reserve. Strategy said it raised the reserve by $300 million to $1.4 billion and plans to keep replenishing it to support the credit quality of its Digital Credit securities.
That reserve is designed to cover preferred dividends and interest obligations without forcing the company to rely immediately on Bitcoin sales during market stress. Strategy’s earlier reserve framework described the cash pool as a tool for supporting dividend payments on preferred stock and interest on outstanding debt, with the company aiming to maintain at least 12 months of coverage and eventually 24 months or more.
The reserve directly addresses the pressure point that has followed Strategy since its small Bitcoin sale earlier this month. Even though the sale was tiny compared with the company’s holdings, it shifted attention toward STRC, preferred dividends, mNAV, and the possibility that balance-sheet obligations could shape future treasury decisions.
By raising the USD Reserve while still adding BTC, Strategy is trying to show two things at once: it can continue accumulating Bitcoin, and it can reinforce the cash layer behind its credit instruments. That matters for STRC and the broader Digital Credit stack because preferred investors are focused less on Bitcoin upside and more on payment coverage, liquidity and capital structure resilience.
The purchase lands while Bitcoin is still locked in a weak technical range. BTC has been hovering near $64,000 after a roughly 50% drawdown from its previous peak, with bulls defending the low-$60,000 area and bears waiting for another break lower.
Onchain momentum has not given a clean reversal signal either. CryptoQuant’s latest cycle reading still says the Bitcoin bear-market phase has not cleared, even though the indicator has moved into a historically deep support zone.
That backdrop makes Strategy’s latest move more than another weekly BTC purchase. The company is adding Bitcoin below its average cost while also expanding a dollar reserve meant to reassure credit investors. Bulls can argue that the company is using weakness to build long-term Bitcoin exposure. Critics will keep watching whether equity issuance, preferred financing and mNAV pressure reduce BTC per share even as the headline reserve grows.
Strategy now holds 847,363 BTC and $1.4 billion in USD Reserve after the latest disclosure, leaving investors to judge whether Saylor’s treasury model can keep buying through a weak Bitcoin cycle while maintaining enough cash coverage for its Digital Credit securities.
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