Purchase Details and Funding Sources
Strategy (formerly MicroStrategy), the largest corporate holder of Bitcoin, announced in a Form 8-K filing that it purchased 15,355 BTC between April 21 and April 27, 2025, at an average price of $92,737 per bitcoin. The acquisition was funded through $1.44 billion raised via at-the-market (ATM) stock offerings, including 4,020,000 common shares and 435,069 shares of 8.00% Series A perpetual strike preferred stock. At current prices, Strategy's total Bitcoin holdings are worth over $52 billion, with an average purchase price of $68,459 per Bitcoin, representing approximately 2.64% of the 21 million maximum supply.
Market Response and Catalysts
Following the announcement, Bitcoin's price surged above $95,000, trading at $95,304 at press time, up 1.59% in 24 hours. Beyond Strategy's purchase, several positive catalysts supported the rally: President Trump signaled potential reductions in Chinese import tariffs, easing trade tensions; new SEC Chairman Paul Atkins adopted a pro-crypto stance, boosting regulatory optimism; and strong institutional inflows into spot Bitcoin ETFs provided additional buying pressure. These factors combined to push Bitcoin past the key psychological level of $95,000.
Institutional Confidence and Outlook
Strategy's continued accumulation reinforces confidence in Bitcoin as a treasury reserve asset. The company's $21 billion common stock ATM program launched in October 2024 is nearly exhausted, with only $128.7 million remaining. Meanwhile, the STRK preferred share program established in March 2025 still has $20.92 billion available, suggesting potential for future purchases. With holdings now representing 2.64% of circulating supply, Strategy remains the largest public Bitcoin holder. As institutional adoption accelerates, Bitcoin's mainstream role as a corporate reserve asset continues to strengthen.