Core Insights - Strategy, led by Michael Saylor, has expanded its Bitcoin treasury by acquiring an additional 390 BTC for $43.4 million, averaging $111,117 per Bitcoin [1] - The total Bitcoin holdings of Strategy now stand at 640,808 BTC, with an aggregate purchase price of $47.44 billion and an average purchase price of $74,032 per Bitcoin [2] Funding Mechanism - The recent Bitcoin purchases were funded through proceeds from Strategy's At-The-Market (ATM) equity programs, raising a total of $43.4 million [3] - Strategy has utilized its ATM offerings to generate capital for Bitcoin acquisitions without incurring additional debt, with access to over $46 billion in potential issuance capacity [4] Investment Philosophy - The approach aligns with Saylor's long-term thesis of using equity capital to accumulate Bitcoin as a superior store of value, minimizing balance-sheet risk while increasing exposure to Bitcoin [5] - Michael Saylor maintains a strong conviction in Bitcoin as "digital property" and "the ultimate treasury reserve asset," positioning Strategy as the largest corporate holder of Bitcoin globally, representing over 3% of Bitcoin's total circulating supply [6] Strategic Vision - Strategy is advancing its "Bitcoin-as-a-Service" vision, providing software, analytics, and capital markets infrastructure to institutions exploring digital assets [7] - The latest purchase reinforces the belief that Bitcoin will outlast inflation and outperform traditional assets, positioning it as a cornerstone of a new global financial paradigm as the next halving cycle approaches in 2026 [8]