Strategy disclosed Monday that it acquired $21 million of Bitcoin last week, lifting its aggregate position to approximately $70 billion. The purchase, its fifth since August, was financed through the sale of more than 125,000 common shares and $500,000 in cash. Concurrently, the company deployed $192 million to retire nearly 2 million shares of its STRC preferred series.
Bitcoin’s rebound changes the calculus
The cryptocurrency climbed past $77,000 in mid-August for the first time since May and traded at $82,600 Monday morning. That recovery follows a decline from an October 2025 peak of $126,000 to a June low of $58,000. During the downturn, Strategy, holder of roughly 4 percent of circulating supply, liquidated portions of its stack on four separate occasions. The selling ceased once prices stabilized, and the firm resumed accumulation.
Other corporate buyers re-enter the market
Strive, the asset manager co-founded by Vivek Ramaswamy, added 2,000 Bitcoin this month for $169 million, bringing its treasury to about $2.4 billion. Robinhood, under chief executive Vlad Tenev, disclosed a $25 million balance-sheet allocation. Metaplanet, Japan’s largest publicly traded Bitcoin treasury after Strategy, executed a round-trip in the third quarter: it sold 10,000 coins and repurchased 11,000 to prove to credit counterparties that its holdings can be converted to cash on demand.
Ether exposure expands beyond miners
Bitmine, which pivoted from Bitcoin mining to an Ethereum treasury model, added roughly $41 million of Ether this month, raising its position to 6 million tokens, nearly 5 percent of total supply. The move signals that corporate crypto allocation is no longer confined to Bitcoin, even as the largest token holds above $82,000 despite Federal Reserve rate increases and renewed Middle East tension.
Analysts eye six-figure targets
Fortune cited strategists who see further upside by year-end, with one forecasting a summer bottom followed by a push toward $100,000. Whether the current buying reflects conviction or balance-sheet engineering remains an open question; the disclosures show capital flowing in, but the custody arrangements and financing structures vary widely across the cohort.