Corporate treasury buyers are returning to digital assets as market conditions improve, with Strategy announcing a $21 million Bitcoin purchase last week. Funded largely through common stock sales, the acquisition lifts the firm’s total holdings to approximately $70 billion as major corporate balance sheets expand their cryptocurrency exposure.
The Bottom Line
- Strategy acquired over $21 million in Bitcoin last week, bringing its total treasury stockpile to roughly $70 billion.
- The firm financed the purchase by selling over 125,000 shares of common stock and utilizing $500,000 in cash, alongside a $192 million repurchase of STRC preferred stock.
- Competitors including Strive, Robinhood, and Metaplanet are similarly expanding their digital asset allocations as prices recover.
Funding Mechanics Behind Corporate Stockpiling
Led by Michael Saylor, Strategy funded its latest digital asset accumulation through direct capital market operations. The corporation sold more than 125,000 shares of its common stock alongside $500,000 in cash to clear the $21 million purchase. Simultaneously, the firm allocated roughly $192 million to buy back nearly 2 million shares of STRC, a preferred stock class that distributes regular payments to investors.
This latest transaction marks the fifth time Strategy has bought Bitcoin since August. During the previous steep market downturn—which drove Bitcoin from a peak of $126,000 in October down to $58,000 in June—the firm trimmed its stockpile on four separate occasions. With prices rebounding, the company has halted sales and resumed accumulation, maintaining ownership of roughly 4% of the entire circulating supply of Bitcoin.
Broader Corporate Treasury Inflows
Strategy is not alone in expanding its cryptocurrency reserves. Asset manager Strive, cofounded by Vivek Ramaswamy, disclosed a $169 million acquisition of 2,000 Bitcoin earlier this month, raising its total holdings to approximately $2.4 billion. Retail trading platform Robinhood also entered the corporate buying cohort with a $25 million balance sheet investment.
Meanwhile, Japanese investment firm Metaplanet—the world’s second-largest publicly traded Bitcoin treasury company—adjusted its liquidity profile this month. The firm sold 10,000 Bitcoin and purchased 11,000 during the third quarter to signal to credit markets that its treasury holdings can be readily converted into cash when required.
| Company | Ticker | Recent Action | Total Holdings / Investment |
|---|---|---|---|
| Strategy | — | Purchased Bitcoin | ~$70 Billion |
| Strive | — | Purchased 2,000 Bitcoin | ~$2.4 Billion |
| Robinhood | — | Allocated balance sheet capital | $25 Million |
| Bitmine | — | Added Ethereum to treasury | ~6 Million Tokens (~5% of supply) |
Diversification Across Alternative Digital Assets
Corporate balance sheet expansion extends beyond Bitcoin. Bitmine, a Bitcoin miner turned into an Ethereum treasury company, added roughly $41 million worth of the cryptocurrency to its reserves this month. The acquisition brings its cumulative holdings to approximately 6 million tokens, representing nearly 5% of the total circulating supply of Ether.
This renewed institutional activity coincides with a broader price recovery across the sector. Bitcoin climbed to around $77,000 in mid-August for the first time since May and traded at $82,600 on Monday morning. The asset has maintained its valuation range despite macroeconomic headwinds, including U.S. interest rate hikes and ongoing geopolitical tensions in the Middle East.
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