Strategy Buys Another 10,645 BTC: Holdings Hit 671,268 BTC (SEC Filing)

Strategy (MSTR) just extended its Bitcoin treasury playbook again—twice in two weeks. Fresh SEC filings show the company bought an additional 10,645 BTC between Dec. 8 and Dec. 14, 2025, spending about $980.5 million at an average price of $92,098 per BTC. The move lifts Strategy’s total holdings to 671,268 BTC.

Below is the updated breakdown, how the purchases were funded, and what the latest numbers mean for Strategy’s risk profile. (As always: this is reporting on filings, not investment advice.)

Related reading for context: our latest Strategy + Bitcoin price context and how Bitcoin ETFs influence flows and sentiment.

Strategy’s latest Bitcoin purchase: the updated numbers (SEC filing)

According to Strategy’s Form 8-K filed on Dec. 15, 2025, the company acquired:

• BTC acquired: 10,645 BTC
• Total cost: ~$980.5 million
• Average price: ~$92,098 per BTC (fees and expenses included)
• Purchase window: Dec. 8–Dec. 14, 2025

After that buy, Strategy reported it holds 671,268 BTC with an aggregate purchase price of about $50.33 billion, implying an average purchase price of roughly $74,972 per BTC.

Snapshot table (as of Dec. 14, 2025)

What changed versus the earlier “10,624 BTC” report?

If you saw headlines about a 10,624 BTC purchase, that likely refers to Strategy’s prior weekly BTC update (filed on Dec. 8, 2025). In that filing, Strategy reported buying 10,624 BTC for about $962.4 million at an average price of about $90,615 during Dec. 1–Dec. 7, 2025.

In other words, Strategy didn’t “revise” one purchase. Instead, it added another sizable buy the following week—raising the total holdings from the Dec. 8 report to the higher total reported on Dec. 15.

More background (and rumor control): our breakdown of the recent sell-rumor cycle.

How Strategy funded the buys (and why that matters)

One reason this story keeps repeating is that Strategy has a consistent funding engine. Based on the company’s filings, the purchases were primarily supported by capital raises rather than a simple “use operating cash” approach.

For the Dec. 1–Dec. 7 purchase (the filing dated Dec. 8), Strategy reported net proceeds tied to its At-The-Market (ATM) offerings, including sales of:

• MSTR common shares, and
• STRD preferred shares (as described in the filing)

Then, for the next week’s purchase (filed Dec. 15), the company again disclosed the BTC acquisition in its “BTC update,” reinforcing that this is a repeatable playbook: raise capital → add BTC → report weekly.

That detail matters because it changes the risk conversation. Specifically:

• Equity-funded buying can reduce near-term refinancing pressure, because it isn’t the same as taking on new debt.
• However, it can also mean dilution risk for shareholders over time.
• In addition, it makes Strategy’s model highly sensitive to its ability to access capital markets, especially in volatile periods.

What this means for Bitcoin (and for Strategy)

Strategy’s accumulation has become a market narrative because it’s both symbolic and mechanical. Symbolically, it signals long-term conviction. Mechanically, it can create steady buy-side demand during weekly purchase windows.

Still, it’s important to separate market impact from market direction:

• These buys can support sentiment, particularly when Bitcoin is trying to hold key levels.
• However, Bitcoin’s broader direction is still driven by liquidity conditions, risk appetite, and macro factors.
• As a result, Strategy’s purchases are best viewed as an amplifier—not a guarantee.

If you’re tracking “overheated” cycles, this explainer helps frame crowd behavior: crypto bubbles, explained.

FAQ: Strategy’s Bitcoin treasury, updated

How many BTC does Strategy hold now?

As of the company’s Dec. 15, 2025 filing (covering activity through Dec. 14), Strategy reported holding 671,268 BTC.

What is Strategy’s average BTC purchase price?

The filing reports an average purchase price of roughly $74,972 per BTC across the total holdings (including fees and expenses).

Did Strategy buy at higher prices recently?

Yes. The two most recent reported weekly buys were at higher average prices: about $90,615 (Dec. 1–7) and about $92,098 (Dec. 8–14).

Is this financial advice?

No. This article summarizes public filings and general market context for informational purposes only.

Final takeaway

Strategy’s Bitcoin strategy remains consistent: frequent BTC purchases, regular SEC-filed updates, and capital market tools that keep the engine running. The newest filing adds another major buy to the timeline and pushes reported holdings to 671,268 BTC. Nevertheless, the core question for investors stays the same: whether Strategy can keep accessing capital efficiently across different market regimes.

Disclosure: This article is for informational purposes only and does not constitute financial, legal, or tax advice. Crypto is volatile and risky. Do your own research.

Sources

• U.S. Securities and Exchange Commission (SEC) — Dec. 15, 2025 — Strategy Inc. Form 8-K (BTC update for Dec. 8–Dec. 14)
• U.S. Securities and Exchange Commission (SEC) — Dec. 8, 2025 — Strategy Inc. Form 8-K (BTC update for Dec. 1–Dec. 7)