Core Insights - Strategy, a bitcoin-focused holding company led by billionaire Michael Saylor, has significantly increased its BTC holdings with a recent purchase of 8,178 BTC for $835.6 million, bringing its total to 649,870 BTC as of November 16, 2025 [1][2][3] Group 1: Recent Purchases - The recent acquisition of 8,178 BTC was made at an average price of $102,171 per bitcoin, reflecting the company's ongoing strategy of accumulating bitcoin as a long-term reserve asset [2][3] - This purchase is part of a consistent accumulation pattern, even as bitcoin trades above $100,000, indicating the company's strong conviction in bitcoin's value compared to traditional financial instruments [3] Group 2: Financing Strategy - To finance the latest bitcoin purchases, the company utilized proceeds from the sale of preferred and common stock, generating $136.1 million in net proceeds from preferred stock sales during the period of November 10 to November 16 [5][6] - The capital raised allows the company to continue its large-scale BTC accumulation without significantly increasing its debt leverage [6] Group 3: Total Holdings and Cost Basis - Following the latest purchase, Strategy's total bitcoin holdings have a cost basis of $48.37 billion, with an average purchase price of $74,433 per bitcoin, which remains below current market levels [2][7] - The company now holds one of the largest corporate bitcoin treasuries globally, reflecting a long-term strategy of steady accumulation through various market cycles [7]

🔥 JUST IN: Strategy bought 8,178 $BTC worth ~$835.6M.They now hold 649,870 $BTC. https://t.co/gHsmwrwLnz ...

bro is the only reason we're holding above 90k rn 😭Michael Saylor (@saylor):Strategy has acquired 8,178 BTC for ~$835.6 million at ~$102,171 per bitcoin and has achieved BTC Yield of 27.8% YTD 2025. As of 11/16/2025, we hodl 649,870 $BTC acquired for ~$48.37 billion at ~$74,433 per bitcoin. $MSTR $STRC $STRD $STRE $STRF $STRK https://t.co/HI1TeYOvQ9 ...

JUST IN: Michael Saylor's 'Strategy' buys 8,178 Bitcoin worth $835 million. ...

Strategy has acquired 8,178 BTC for ~$835.6 million at ~$102,171 per bitcoin and has achieved BTC Yield of 27.8% YTD 2025. As of 11/16/2025, we hodl 649,870 $BTC acquired for ~$48.37 billion at ~$74,433 per bitcoin. $MSTR $STRC $STRD $STRE $STRF $STRK https://t.co/HI1TeYOvQ9 ...

吴说获悉，据 SEC 最新 13F 披露数据，加拿大养老金计划投资委员会（CPPIB）在 2025 年第三季度新 建仓 Strategy（MSTR），持有 393,322 股。按季度末价格计算市值约 1.27 亿美元；以当前股价估算约 为 8,000 万美元。 （来源：吴说） 来源：市场资讯 ...

According to the latest SEC 13F filings, the Canada Pension Plan Investment Board (CPPIB) opened a new position in MicroStrategy (MSTR) in Q3 2025, holding 393,322 shares. The stake was worth roughly $127 million at the end of the quarter, and is valued at around $80 million at current prices. https://t.co/bsQRnjTh38 ...

Core Insights - MicroStrategy has become one of the largest holders of Bitcoin, controlling 641,692 BTC with a net asset value (NAV) exceeding $61,500 [1] - The company employs a strategy of raising low-interest convertible debt and selling equity shares to fund its Bitcoin acquisitions, allowing it to move away from reliance on stagnant software revenue [2] - MicroStrategy offers a Bitcoin Yield, which is currently over 26% year-to-date, providing MSTR shareholders with leveraged exposure to Bitcoin's upside without direct management of the asset [3] Company Strategy - The business intelligence firm has been accumulating Bitcoin as a primary reserve since late 2020, positioning itself as a significant player in the cryptocurrency market [2] - This approach has resulted in substantial returns for MSTR investors, although it has attracted scrutiny and criticism regarding its sustainability and potential risks [4] Market Dynamics - MicroStrategy's strategy of issuing debt and equity to purchase Bitcoin has implications for Bitcoin's market price and overall market capitalization, potentially creating a cycle that could be disrupted in a bear market [5] - Analysts like Jeff Dorman suggest that the likelihood of MicroStrategy needing to liquidate its Bitcoin holdings is minimal, as it would only occur under extreme market conditions [6]

Core Viewpoint - Peter Schiff has publicly accused Strategy (MSTR) of operating a fraudulent business model, particularly criticizing its Bitcoin treasury strategy, and has challenged Michael Saylor to a debate on the matter [2][6]. Group 1: Business Model and Criticism - Strategy's business model relies on continuously raising funds to purchase more Bitcoin, which has led to allegations of it resembling a Ponzi scheme due to its use of new capital to repay previous debts [3][4]. - Schiff claims that regardless of Bitcoin's performance, MSTR is likely to face bankruptcy, highlighting the skepticism surrounding Saylor's digital asset treasury model [2][4]. - Critics argue that the reliance on new fundraising to service existing debts raises significant concerns about the sustainability of Strategy's operations [4][6]. Group 2: Market Performance and Risks - Following recent market downturns, Strategy's market capitalization briefly fell below the value of its Bitcoin holdings, raising fears that the company may need to liquidate assets [5]. - Saylor has asserted that Strategy could withstand an 80% decline in Bitcoin value without missing dividend payments, although market sentiment has turned bearish [5]. - The firm benefits from a lower average purchase price for Bitcoin due to its long-term accumulation strategy, which may mitigate some risks compared to newer entrants in the digital asset space [4].

Core Viewpoint - Bitcoin price predictions are bearish, especially with BTC USD falling below $100,000, raising concerns about MicroStrategy's financial stability and reputation [1][2]. Company Analysis - MicroStrategy, the largest holder of Bitcoin, faces pressure as its net asset value (NAV) fell below 1 when BTC USDT dropped below $100,000, indicating that the company's total assets were less than its Bitcoin holdings [1][2]. - The company's reputation is at stake, with potential accusations of fraud if Bitcoin does not recover, particularly for CEO Michael Saylor [2][3]. - Despite the NAV challenges, MicroStrategy has not sold any Bitcoin, and its Bitcoin NAV is currently valued at $61,487, yielding 26.1% year-to-date [5]. Industry Context - Peter Schiff, a prominent gold advocate, criticizes MicroStrategy's business model, suggesting it is unsustainable and could lead to a sell-off of preferred shares, negatively impacting Bitcoin and related cryptocurrencies [3][4]. - There is a critical support level for Bitcoin at $93,000; if buyers can push prices above $100,000, it may provide relief for MicroStrategy [6].