Strategy (MSTR), the world’s largest publicly traded holder of bitcoin, expanded both its bitcoin holdings and cash reserves in late 2025 and early 2026, financing the additions through common stock sales.
Led by Executive Chairman Michael Saylor, the company acquired 1,287 bitcoin for just over $116 million at an average price of roughly $90,000 per coin. Total holdings now stand at 673,783 bitcoin, purchased for $50.55 billion at an average cost of $75,026 per bitcoin.
During the same period, Strategy increased its cash balance by $62 million, bringing total cash reserves to $2.25 billion.
The company said the cash buildup is intended to support dividend payments on its perpetual preferred equity. At current levels, Strategy has sufficient liquidity to cover approximately 32.5 months of dividend payments, according to its dashboard.
Alongside the balance sheet update, Strategy disclosed $17.44 billion in unrealized losses on its bitcoin holdings in the fourth quarter, reflecting bitcoin’s decline from around $120,000 in early October to roughly $88,000 by year-end.
Strategy shares were up 4.5% in premarket trading, tracking a weekend rebound in bitcoin to about $92,900.
