Bitaigen Research 
Strategy has now accumulated a Bitcoin reserve that is approaching 739,000 coins after its latest acquisition round, even though the purchase price for this tranche was below the company’s overall average cost basis.
According to the company’s disclosure, the average price paid for the newly‑bought BTC was $70,946 per coin, which is modestly lower than the overall average cost of $75,862 per coin. Nevertheless, the price still exceeded the market level for most of the week, which hovered around $67,000. The cumulative holding now stands at 738,731 BTC, representing an investment of roughly $56 billion.
In this article we dissect the rationale behind Strategy’s recent large‑scale Bitcoin accumulation, focusing on its cost structure, timing of the trade, and the potential implications for the firm’s asset allocation. By comparing with historic buying strategies, we help readers understand the significance of this operation within the industry and provide a reference perspective for future price movements.
First major purchase below the company’s internal benchmark
Since 2022‑2023, Strategy has typically adopted a cautious buying pace when the cost was below its internal benchmark, completing only seven small‑size transactions that together added 28,560 BTC. The current acquisition, however, is the largest single purchase in the company’s history. Although the price is under the overall cost benchmark, it remains the biggest one‑off buy since January, when the firm spent $2.13 billion at $95,284 per coin to acquire 22,305 BTC.
Source: SEC
During the current low‑cost period, SaylorTracker records show that Strategy has completed five purchases since February 9, accumulating 25,229 BTC. In the same timeframe, the company’s average cost benchmark slipped slightly from $76,052 to $75,862, a decline of about 0.25 %.
Source: SaylorTracker
Source: Michael Saylor
Commentators on the social platform X noted that the quantity bought in this round far exceeds the daily newly‑minted Bitcoin supply. According to BitBo data, the global network creates roughly 450 BTC per day (about 3,150 BTC per week). Strategy’s single purchase of nearly 18,000 BTC therefore corresponds to roughly five weeks of fresh mining output.
To date, Strategy’s Bitcoin holdings represent about 3.7 % of the total circulating supply, and the overall circulating amount is projected to surpass 20 million BTC early this week. CoinGecko shows that at the time of publication the BTC price was $67,725, up about 2.4 % over the previous seven days. In the same period, TradingView reported that Strategy’s (MSTR) stock price recovered 3.6 %, closing on Friday at $133.5.
The above provides a complete analysis of Strategy’s $1.3 billion re‑investment in Bitcoin, pushing its holdings beyond 738,000 coins. For further updates, stay tuned to Bitaigen’s (比特根) subsequent coverage.
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