Strategy Acquires 390 BTC for $43.4M, Total Holdings Hit 640,808

Core Insights - Strategy Inc. acquired 390 Bitcoin for approximately $43.4 million between October 20 and October 26, 2025, achieving a year-to-date BTC yield of 26.0% [1][3] - The acquisition was funded entirely by net proceeds from at-the-market sales of preferred stock, following a significant unrealized appreciation of $3.9 billion in Q3 2025 [1][3] - As of October 26, 2025, Strategy holds a total of 640,808 BTC with an aggregate purchase price of $47.44 billion, resulting in an average cost basis of $74,032 per Bitcoin [3][5] Acquisition Strategy - The company sold 175,634 STRF shares, 191,404 STRK shares, and 87,462 STRD shares during the acquisition period, paying an average price of $111,117 per Bitcoin for the recent purchase [2][4] - The recent purchase follows a pattern of regular acquisitions, including 220 BTC added during the week of October 6-12 and a previous acquisition of 196 BTC in late September at an average price of $113,048 per coin [4][5] Market Position - Strategy maintains its position as the largest corporate holder of Bitcoin, supported by ongoing capital raises and systematic purchases, despite facing criticism regarding liquidity concerns from figures like Peter Schiff [5] - The company utilizes multiple stock instruments to fund acquisitions, adapting to varying market conditions [5]