Strategy Now Holds $54 Billion in Bitcoin: Biggest Buys Revealed

Strategy’s Bitcoin treasury crossed the $54 billion cost-basis mark on February 1, 2026, when the company reported holding 713,502 BTC acquired for $54.26 billion, according to its February 5, 2026 fourth-quarter results. The filing matters because it shows how a handful of outsized purchases in 2025 and early 2026 built the largest corporate Bitcoin stockpile, funded largely through equity and preferred-share issuance.

That headline number is only part of the story. Since that February disclosure, Strategy has kept buying. The company said on March 2, 2026 that it held 720,737 BTC after acquiring 3,015 BTC, and on March 9, 2026 it raised that total again to 738,731 BTC after another 17,994 BTC purchase. Those later filings mean the company’s Bitcoin count has moved well beyond the 713,502 BTC tied to the $54.26 billion cost basis disclosed in early February.

713,502 BTC on February 1 Set the $54.26 Billion Marker

Strategy’s February 5, 2026 earnings release is the key document behind the “$54 billion in Bitcoin” figure. In that filing, the company said its digital assets totaled about 713,502 BTC as of February 1, 2026, with an original cost basis of $54.26 billion and an average purchase price of roughly $76,052 per bitcoin. It also reported a market value of $59.75 billion using a bitcoin price of about $83,740 as of January 30, 2026.

The same filing adds context on how aggressively Strategy financed that accumulation. The company said it raised about $25.3 billion during 2025 to advance its Bitcoin treasury strategy, then added another roughly $3.9 billion of gross proceeds between January 1 and February 1, 2026. Much of that came through its common-stock at-the-market program, with additional capital raised through preferred securities including STRK, STRF, STRD and STRC.

Which Buys Were the Biggest by Bitcoin Added?

The largest disclosed purchase in the source set reviewed here is Strategy’s March 31, 2025 acquisition of 22,048 BTC, which lifted total holdings to 528,185 BTC. That buy stands out because it added more bitcoin in a single disclosed transaction than the company’s March 9, 2026 purchase of 17,994 BTC and far more than the smaller February 2026 additions of 1,142 BTC, 2,486 BTC and 3,015 BTC.

Among the biggest buys visible in the verified filings gathered for this article, the ranking by BTC added is led by the 22,048 BTC purchase on March 31, 2025, followed by 17,994 BTC on March 9, 2026, then 13,627 BTC on January 12, 2026. After that come 3,015 BTC on March 2, 2026, 2,932 BTC on January 26, 2026, 2,486 BTC on February 17, 2026, 1,142 BTC on February 9, 2026 and 855 BTC on February 2, 2026.

Why 2025 and Early 2026 Drove the Treasury Expansion

Strategy’s own disclosures show that 2025 was the acceleration year. In its February 5, 2026 results, the company said it achieved a full-year 2025 BTC Gain of 101,873 and increased holdings to 713,502 BTC, including 41,002 BTC acquired in January 2026 alone. That pace helps explain why the treasury moved from 528,185 BTC after the March 31, 2025 purchase to more than 713,000 BTC by early February 2026.

The financing side is just as important as the purchase sizes. Strategy said it was the largest U.S. equity issuer in 2025, representing about 8% of total U.S. equity issuance, and it used those capital markets programs to keep adding bitcoin while also building a $2.25 billion USD reserve. That reserve, disclosed as of February 1, 2026, was described as enough to cover about 2.5 years of preferred dividends and interest obligations.

How Big Is Strategy’s Bitcoin Position Against the Market?

Bitcoin traded around $69,951.88 on CoinGecko data surfaced in search results reviewed on March 21, 2026, implying that Strategy’s 738,731 BTC disclosed on March 9 would be worth roughly $51.7 billion at that price. That is below the company’s February 1 cost basis figure of $54.26 billion, which reflects how market value can swing sharply even as the bitcoin count rises. This calculation is an inference based on Strategy’s disclosed holdings and CoinGecko’s quoted BTC price.

Using the February 1, 2026 snapshot instead, Strategy’s 713,502 BTC represented one of the largest concentrated corporate exposures in any liquid asset class. The company itself described Strategy as the largest corporate holder of bitcoin, and the filing’s market value estimate of $59.75 billion at a January 30 bitcoin price near $83,740 shows how quickly the treasury’s paper value can expand or contract with the underlying asset.

What the Biggest Buys Show About Strategy’s Playbook

The pattern in the filings is clear: Strategy tends to pair capital raises with rapid treasury deployment. The company disclosed billions of dollars in gross proceeds from common and preferred issuance, then followed with repeated 8-K announcements showing higher BTC totals. That mechanism matters more than any single weekly purchase because it explains how the treasury scaled from 528,185 BTC in late March 2025 to 738,731 BTC by March 9, 2026.

For readers tracking the “biggest buys,” the verified record in the filings reviewed here points to three standout additions: 22,048 BTC on March 31, 2025, 17,994 BTC on March 9, 2026, and 13,627 BTC on January 12, 2026. Those three transactions alone account for 53,669 BTC, a sizable share of the increase visible across the disclosed period.