Strategy buys 2,932 BTC at ~$90,061, holdings rise to 712,647 BTC
Bitcoin proxy Strategy acquired 2,932 BTC between Jan. 20–25 at an average price of $90,061 per coin, spending roughly $264.1 million. The purchases raise Strategy’s total Bitcoin holdings to 712,647 BTC, valued at about $62.5 billion at current market prices. According to an SEC filing, the company funded the buys using net proceeds from at-the-market (ATM) sales of its securities — 70,201 STRC shares and over 1.6 million MSTR shares — generating roughly $264 million. Michael Saylor, who directs the firm’s Bitcoin strategy, reiterated the company’s long-running approach of holding Bitcoin as its primary treasury reserve asset. Key figures and keywords: Strategy, 2,932 BTC, $90,061 average price, $264M proceeds, 712,647 BTC total, ATM offering, Michael Saylor.
Bullish
Large, continued accumulation of BTC by a public treasury entity is generally bullish for Bitcoin markets. Strategy’s purchase of 2,932 BTC using proceeds from equity ATM sales removes available supply from circulation and signals persistent institutional demand. The buy size ($264M) is modest relative to total market cap but meaningful for on-chain supply dynamics because these coins are likely to be held long term as treasury reserves. Historical parallels: previous sustained purchases by public firms (including earlier Strategy/MSTR accumulation cycles) correlated with positive market sentiment and reduced liquid supply, supporting price strength over medium term. Short-term impact: limited immediate price shock — trades executed over several days at ~$90k — but could tighten available float and lift sentiment, possibly producing upward price pressure. Long-term impact: reinforces narrative of institutional adoption and treasury allocation to Bitcoin, which can support higher price floors if such accumulation continues. Risks/neutralizing factors: funding via equity issuance (ATM) introduces dilution risk for shareholders and could cap aggressiveness; macro factors (rates, liquidity) and large-scale selling by other holders could counteract bullish effect. Overall, net effect is bullish but not determinative — it strengthens institutional demand signals and reduces circulating supply, which traders should weigh alongside macro liquidity and on-chain metrics.