Strategy (NASDAQ: $MSTR), the corporate leader in Bitcoin purchases, has made yet another big buy, as it continues to add to its stockpile. This week, it bought 13,927 BTC, for an average price of $71,902. It was the fifth time this year that Strategy has made a purchase of BTC that was worth at least $1 billion. The company remains as bullish as ever on Bitcoin, and it now has 780,897 BTC.
The magic behind how Strategy is able to do this is by issuing STRC (NASDAQ: $STRC), which is preferred stock. This enables the company to not have to rely on common stock offerings, which can drive down the company's share price in the process. It results in no dilution for common shareholders, while enabling them to continue to benefit from greater exposure to Bitcoin.
Over the past five years, Strategy's valuation has more than doubled, in large part due to the rising price of Bitcoin and the company's continued purchases of BTC. The company's financial performance, however, is often highly volatile as it depends largely on its digital assets. In 2025, it incurred a net loss of $3.8 billion, and that was largely because the company reported an unrealized loss of $5.4 billion on digital assets.
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Michael Saylor, one of the biggest Bitcoin bulls there is, is the co-founder and executive chairman of the company, is undeterred by the recent downturn in the crypto markets and believes Bitcoin will reach a value of $21 million by 2046. That would represent a tremendous gain for the cryptocurrency, which is currently trading around $74,000.