The software company turned Bitcoin treasury firm Strategy has been acquiring BTC for over five years, leading the charge for publicly traded companies integrating cryptocurrencies into their financial strategies.
This initiative began as a method to "maximize long-term value for shareholders" but has evolved into a transformative movement, further propelled by the increasing overlap of traditional finance and the crypto sector.
As a result, Strategy has amassed a total of 843,738 BTC, equating to about 4% of the capped 21 million Bitcoin supply, valued at nearly $65 billion with Bitcoin prices currently exceeding $76,500.
No matter how high Bitcoin's value climbs, co-founder and Executive Chairman Michael Saylor has vowed to “buy the top forever,” which has raised the firm’s average purchase price to over $75,700 per Bitcoin—more than seven times the average price of its initial Bitcoin acquisition.
Below, we review Strategy’s seven largest Bitcoin purchases and their immediate effects on Bitcoin's market price, noted from the time of Saylor's social media announcements.
#1) 55,500 BTC - November 25, 2024
Average price: $97,862
Total spend: $5.4 billion
On November 25, 2024, Michael Saylor revealed Strategy’s largest Bitcoin purchase to date, both in terms of quantity and expenditure, acquiring 55,500 BTC at a cost of approximately $5.4 billion. This acquisition exceeded its previous record by over $800 million.
Following the announcement, Bitcoin's price dipped around $4,000 to below $94,000, representing a 4% drop from the average price paid by Strategy.
MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
— Michael Saylor (@saylor) November 25, 2024
2) 51,780 BTC - Nov. 18, 2024
Average price: $88,627
Total spend: $4.6 billion
The second-largest Bitcoin acquisition in Strategy's history occurred just a week prior to its largest buy. Although Bitcoin briefly fell after the announcement, it rebounded, reaching a daily peak of $92,653, just 2% below its all-time high according to CoinGecko.
The next day, Bitcoin achieved a new all-time high above $94,000, with Strategy’s acquisition bringing its total holdings to 331,200 BTC.
3) 34,200 BTC - April 20, 2026
Average price: $74,395
Total spend: $2.54 billion
On April 20, 2026, Strategy announced its third-largest Bitcoin purchase, adding 34,200 BTC to its portfolio, raising its total to over 815,000 BTC valued at around $62 billion shortly thereafter.
This acquisition, unlike prior ones largely financed through convertible notes, was funded by Stretch (STRC), its preferred share that pays dividends.
Interestingly, Bitcoin's price rose by more than 1% following the announcement, trading at approximately $75,907 the next day, yielding a small unrealized gain for the firm.
4) 29,646 BTC - Dec. 21, 2020
Average price: $21,925
Total spend: $650 million
In December 2020, during a surge in Bitcoin prices and bullish market sentiment, Strategy disclosed its fourth-largest purchase of 29,646 BTC.
Though this was the largest purchase at that time, Bitcoin's price remained relatively stable around the announcement, opening at $23,518 on December 21 and closing at $23,795 the following day, reflecting a minimal increase.
5) 27,200 BTC - Nov. 11, 2024
Average price: $74,463
Total spend: $2.03 billion
Just under a week after Donald Trump secured his second presidential term, Strategy announced the acquisition of 27,200 BTC. This purchase occurred between October 31 and November 10, as Bitcoin prices fluctuated between $72,000 and $80,000.
However, after Saylor's announcement on November 11, Bitcoin surged, closing the day at $88,637, marking a more than 10% increase and setting another all-time high post-election.
6) 24,869 BTC - May 18, 2026
Average price: $80,985
Total spend: $2.01 billion
In May 2026, Strategy utilized its preferred stock offering—STRC—to acquire nearly 25,000 Bitcoin valued at over $2.01 billion.
This marked its sixth-largest purchase by Bitcoin count, lifting the average acquisition price to about $75,701.
Yet, as with many of its significant purchases, Bitcoin's price fell soon after the announcement. Within two days, BTC dropped nearly 4.5% to trade at $77,207, dipping below the $75,000 threshold for the first time in over a month later that week.
7) 22,337 BTC - March 16, 2026
Average price: $70,194
Total spend: $1.57 billion
Near the end of Q1 2026, Strategy made its third-largest purchase of that year, acquiring 22,337 BTC valued at $1.57 billion at the time.
This purchase ranks as the seventh-largest Bitcoin buy in the firm's history, driven by ongoing sales of its preferred stock offering—Stretch (STRC)—which pays dividends and is issued when trading above $100. When this occurs, the firm uses the raised funds to acquire more Bitcoin.
While most of its major purchases have been followed by price declines, Bitcoin actually rose above $75,000 on the day the purchase was announced, although it later fell back below $70,000 shortly thereafter.
Editor's note: This article was first published on November 19, 2024, and updated on May 24, 2026, with new information.