TLDR:
- Strategy acquired 168 BTC for $18.8 million at roughly $112K per coin, expanding its holdings to 640,418 BTC.
- The company used preferred ATMs for funding, avoiding shareholder dilution while boosting its Bitcoin position.
- Its total Bitcoin stash is now worth $47.4 billion, bought at an average price of $74,010 per BTC.
- Strategy retains more than $46 billion in preferred ATM reserves, supporting continued Bitcoin accumulation.
Strategy has made another move in its ongoing Bitcoin accumulation campaign.
The firm purchased 168 BTC for about $18.8 million, pushing its total Bitcoin stash to 640,418 BTC. This latest buy follows months of consistent accumulation that continues to strengthen its position in the digital asset market.
Moreover, the acquisition was fully funded without diluting shareholders. The company confirmed the update through its official press release published on October 20, 2025.
Bitcoin Accumulation Through Preferred ATMs
According to the company’s release, Strategy financed the entire $18.8 million purchase using proceeds from preferred ATMs. None of the funds came from common stock, ensuring no dilution for shareholders.
Crypto commentator Adam Livingston explained in a post that Strategy drew funds from several Series A perpetual preferred instruments. These included $11.2 million from STRF, $5.1 million from STRK, and $2.6 million from STRD. All proceeds flowed directly into Bitcoin purchases at an average price of $112,051 per coin.
Livingston described the STRF ATM as a “pure Bitcoin accumulation engine.” The mechanism allowed Strategy to expand its holdings while maintaining a strong capital structure. It reflects a continued approach of leveraging preferred equity to build its BTC reserves.
As of October 19, 2025, the firm holds 640,418 BTC acquired for approximately $47.4 billion at an average purchase price of $74,010 per coin. The company’s year-to-date Bitcoin yield currently stands at 26.0%, according to the announcement.
How Strategy funded its latest 168 BTC purchase
No MSTR ATM used again – zero dilution to common shareholders.
$18.8M total raised this week entirely from preferred ATMs.
$11.2M from STRF (10% Series A perpetual “strife” preferred).
$5.1M from STRK (8% Series A perpetual… https://t.co/0YGaLjGhIg
— Adam Livingston (@AdamBLiv) October 20, 2025
Bitcoin Treasury Growth and Market Context
Strategy’s ongoing accumulation cements its position among the largest institutional holders of Bitcoin. With this new purchase, the company’s BTC portfolio value exceeds $47 billion, based on current market prices.
The latest acquisition adds to its long-term strategy of increasing exposure to Bitcoin while preserving shareholder value. Its structured financing approach, through perpetual preferred ATMs, has allowed steady expansion without issuing new common shares.
Livingston also highlighted the firm’s remaining funding potential. According to his breakdown, Strategy still holds $1.69 billion in STRF, $4.2 billion in STRC, $4.14 billion in STRD, $20.36 billion in STRK, and $15.9 billion in MSTR. These reserves provide ample capacity for future purchases.
The company’s continuous Bitcoin buying spree aligns with its broader thesis of Bitcoin as a core treasury asset. As the market enters the final quarter of 2025, Strategy’s total holdings underscore its conviction in the cryptocurrency’s long-term role in corporate finance.
The post Strategy Expands Bitcoin Hoard to 640,418 BTC After $18.8M Purchase appeared first on Blockonomi.
Source: https://blockonomi.com/strategy-expands-bitcoin-hoard-to-640418-btc-after-18-8m-purchase/