Strategy makes largest biggest BTC purchase in October, adding 390 BTC

Strategy announced another weekly purchase, the largest for October to date. The treasury added another 390 BTC following a week of recovery for the crypto markets.

Strategy made its biggest BTC purchase in three weeks, adding 390 BTC to its treasury. The company now holds 640,808 BTC, acquired at an average price of 74,032 per BTC. 

Strategy has acquired 390 BTC for ~$43.4 million at ~$111,053 per bitcoin and has achieved BTC Yield of 26.0% YTD 2025. As of 10/26/2025, we hodl 640,808 $BTC acquired for ~$47.44 billion at ~$74,032 per bitcoin. $MSTR $STRC $STRK $STRF $STRDhttps://t.co/Ipb8nYX4w4

— Strategy (@Strategy) October 27, 2025

The latest purchase happened during a week of gradual market recovery, while Strategy still managed to buy under the current BTC price. In the past few weeks, Strategy kept the pace with relatively small purchases, enough to signal confidence in BTC. The purchase was expected after executive chairman Michael Saylor hinted at another “orange dot day”.

The recent purchase follows last week’s addition of just 168 BTC, the lowest purchase since August 2025.

Strategy uses preferred shares to acquire more BTC

Unlike the past weeks, when Strategy added more MSTR common stock to its balance, this time the fundraising came from preferred shares. 

The recent fundraising used the most senior perpetual preferred stock, STRF, adding $17.6M for purchasing BTC. 

Additionally, Strategy sold $19.1M STRK and $8.7M in STRD, one of the riskiest preferred share types. STRD makes sense if BTC is out of the woods when it comes to a protracted bear market, and the recent raise shows confidence. 

This time, Strategy did not use STRC, the recently added yield-bearing asset. The recent market fluctuations are once again testing Strategy’s ability to balance risk, based on general market exuberance or the potential for a downturn. 

Strategy still trades above asset value

Based on the current value of BTC and MSTR, Strategy is still trading above asset value. The mNAV metric recovered to 1.33, showing the BTC buying approach was viable under different risk profiles. 

MSTR still traded near a six-month low of $289.08, reflecting the general outflow of interest for digital asset treasury (DAT) companies. However, the new balance shows Strategy and BTC treasuries may still be viable, especially in the case of moving BTC to a higher price range. 

The continued purchases by Strategy show a more viable approach compared to Metaplanet’s large purchases. Currently, Metaplanet trades just below par with its assets, with no additional activity since October 10.

There are still only 17 other companies following Strategy’s playbook, though on a different purchasing schedule. 

Smaller BTC companies with sporadic purchases are also taking BTC off the market. The minimum for entering the top 10 of treasuries is up to 123 BTC. Currently, Neowiz Holdings has the smallest BTC treasury. Coinsilium is the smallest playbook buyer, with only 182 BTC accrued so far. 

Recently, Bitplanet announced the beginning of its BTC journey for the South Korean market, building a 92 BTC treasury so far.

These companies typically buy BTC at different price levels, and so far, have not yet had to deal with a prolonged bear market or significant corrections.

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