Software firm turned Bitcoin treasury company Strategy has been buying BTC for more than five years, pioneering the growing trend of publicly traded firms that are adding cryptocurrencies to their balance sheets.

What started as a way to "maximize long-term value for shareholders” has transformed into an industry-shifting paradigm that has been further fueled by greater entwinement of traditional financial markets and crypto. 

Along the way, Strategy has accumulated 815,061 BTC, or nearly 3.9% of the fixed 21 million total Bitcoin supply—a stash worth nearly $62 billion at today’s Bitcoin price above $75,000.

Regardless of how high Bitcoin’s price goes, though, Strategy co-founder and Executive Chairman Michael Saylor has committed to “buying the top forever,” pulling up the firm's average entry price to over $75,500 per Bitcoin—over seven times the average cost of the firm’s first Bitcoin purchase. 

Below, we look back at Strategy’s seven largest Bitcoin purchases to date and their immediate impacts on the price of Bitcoin, marked from the time of Saylor’s announcements via social media.

#1) 55,500 BTC - November 25, 2024

Average price: $97,862 
Total spend: $5.4 billion 

Michael Saylor announced Strategy’s largest-ever purchase of Bitcoin, by both BTC and USD denominations, on November 25 in 2024. The purchase of 55,500 Bitcoin surpassed its previous top acquisition by more than $800 million.

In the hours after the Saylor announcement, Bitcoin dropped by about $4,000 to under $94,000, a 4% decrease from the average price paid by Strategy.

2) 51,780 BTC - Nov. 18, 2024

Average price: $88,627
Total spend: $4.6 billion 

The second-largest Bitcoin purchase in Strategy history came just one week before its largest-ever purchase. Though Bitcoin dropped shortly in the hour following the announcement, a rebound followed, and it reached a daily high of $92,653, just 2% shy of its all-time high price, according to data from CoinGecko.

The following day, Bitcoin hit a new all-time high price above $94,000. Strategy’s purchase brought its holdings to 331,200 BTC.

3) 34,200 BTC - April 20, 2026

Average price: $74,395
Total spend: $2.54 billion

Strategy announced its third-largest Bitcoin purchase of all-time on April 20, 2026, adding 34,200 Bitcoin to its stash and pushing its total holdings to over 815,000 BTC in the process, valued around $62 billion shortly after its purchase. 

Unlike previous purchases that had been largely funded via convertible notes, Strategy’s third-largest accumulation was fueled by Stretch (STRC), its dividend-paying preferred share. 

While the firm’s purchases have frequently been followed by a slide in Bitcoin prices, following its April 20 announcement, Bitcoin moved higher by more than 1% and was changing hands on April 21 around $75,907. That granted the firm a small unrealized gain from its announced purchase.

4) 29,646 BTC - Dec. 21, 2020

Average price: $21,925
Total spend: $650 million

Strategy’s fourth-largest Bitcoin purchase took place in December 2020 amid rising Bitcoin prices and bull market sentiment. The firm disclosed a purchase of 29,645 BTC for its fourth-ever Bitcoin acquisition.

Despite the purchase being the largest for Strategy at the time, Bitcoin price's was relatively unchanged in the 24 hours around the announcement. Data from CoinGecko showcases a Bitcoin open price of $23,518 on December 21, closing one day later at $23,795 for a negligible gain.

5) 27,200 BTC - Nov. 11, 2024

Average price: $74,463
Total spend: $2.03 billion

Less than one week after Donald Trump won his second presidential election, Strategy announced a purchase of 27,200 Bitcoin. That stash was purchased during the timeframe of October 31 to November 10, a time in which Bitcoin ranged in price from $72,000 to $80,000.

However, following the Saylor announcement on the morning of November 11, Bitcoin moved violently upwards, closing the day at $88,637—a move of more than 10%—after setting yet another new all-time high price after the election.

6) 22,337 BTC - March 16, 2026

Average price: $70,194
Total spend: $1.57 billion 

Strategy made its second-largest purchase of 2026 near the end of the first quarter, grabbing 22,337 BTC valued at $1.57 billion at the time of purchase. 

The purchase is good enough for its sixth-largest Bitcoin-denominated buy of all time, with this large buy spurred by continued sales of its preferred stock offering—Stretch (STRC)—which pays a dividend to holders and is occasionally issued when it trades above $100. When that is the case, the firm takes the funds raised from its issuance and buys more Bitcoin. 

While most of the firm’s largest buys have typically been met with falling prices shortly after its purchase, BTC actually ranged upwards from the average purchase price of $70,194, breaching $75,000 on the same day the purchase was announced. In the days that followed, however, the price did retreat, briefly back to under $70,000.

7) 22,305 BTC - January 20, 2026

Average price: $95,284
Total spend: $2.1 billion

Strategy went more than nine months without a splashy weekly Bitcoin purchase of $2 billion or more before nabbing 22,305 BTC for $2.1 billion in January 2026. 

That purchase was good enough for its seventh-largest of all-time by Bitcoin denomination, though it falls just short of its December 9, 2024 acquisition of 21,550 BTC at around $99,000 per coin when comparing overall USD spend. 

Announced on January 20, the firm’s latest major acquisition came with an average price of $95,284—but amid growing trade tariff concerns and President Donald Trump’s push to acquire Greenland, the top crypto asset sold off in the days that followed.

At the time of the announcement, it had already fallen to around $90,000, and at one point the following day was trading as low as $87,650 according to data from CoinGecko—more than 8% below Strategy’s acquisition mark.

Editor's note: This story was originally published on November 19, 2024, and last updated with new details on April 21, 2026.

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