Strategy expands its treasury with the purchase of 397 BTC for US$45,6 million.

• Strategy adds 397 BTC to its bitcoin treasury.
• Purchases financed by common and preferred stock.
• The “42/42” target reinforces an aggressive strategy until 2027.

Strategy (formerly MicroStrategy) reported acquiring an additional 397 BTC between October 27 and November 2 for approximately US$45,6 million, at an average price of US$114.771 per bitcoin. as per file 8-K forwarded to the SEC. With this new round, the total treasury reaches 641.205 BTC, valued at approximately US$69 billion, with an average cost of US$74.057 per BTC and an approximate expenditure of US$47,5 billion, including fees and expenses.

According to the company, the purchases were financed through the issuance and sale of Class A common stock (MSTR) and four lines of perpetual preferred stock — STRK, STRF, STRD, and STRC. These programs are in addition to the “42/42” plan, which projects a total fundraising of US$84 billion in stock offerings and convertible notes for bitcoin acquisitions by 2027, succeeding the “21/21” plan, which has already been exhausted in the equity portion.

Strategy has acquired 397 BTC for ~$45.6 million at ~$114,771 per bitcoin and has achieved BTC Yield of 26.1% YTD 2025. As of 11/2/2025, we hodl 641,205 $ BTC acquired for ~$47.49 billion at ~$74,057 per bitcoin. $ MSTR $STRC $STRK $STRF $STRD https://t.co/gEuzDaloRb

— Michael Saylor (@saylor) November 3, 2025

Last week, the company sold 183.501 MSTR shares for approximately US$54,4 million. It also placed 49.374 STRK shares (~US$4,4 million), 76.017 STRF shares (~US$8,4 million), and 29.065 STRD shares (~US$2,3 million). As of November 2nd, the remaining window still allowed for substantial additional issuances, maintaining flexibility for new BTC purchases.

The preferred share profiles aim to attract different capital profiles: non-convertible STRD with a non-cumulative 10% dividend and higher risk-return; convertible STRK with a non-cumulative 8% dividend; non-convertible STRF with a cumulative 10% dividend; and cumulative STRC with a variable rate and monthly payment. The combination of these classes with convertible debt and equity seeks to dilute operational sensitivity to BTC price cycles.

According to Michael Saylor, co-founder and executive chairman, the position was built for robustness: the capital structure was designed to withstand a prolonged price shock, although "shareholders" would "suffer" in an extreme scenario. In characteristic tone, the executive again signaled buying appetite on the eve of the announcements, writing: "Orange is the color of November."

Strategy's growth occurs in an environment where other listed companies are increasing their allocations to BTC. Even with recent adjustments in the sector's stock prices, the group continues to expand its stake in the asset, with Strategy consolidating its position as a benchmark in bitcoin treasury among publicly traded companies.