Last week, Michael Saylor’s Strategy, known as the largest public Bitcoin holder, enhanced its Bitcoin holdings during a market downturn triggered by the Black Friday crypto crash.

Strategy acquired 168 BTC for $18.8 million, as reported on X, indicating a fresh addition to their portfolio. This latest purchase came at an average price of $112,051, even as Bitcoin fell below $104,000 amidst the market panic on October 10.

With this purchase, the total Bitcoin held by Strategy reaches 640,418, acquired for approximately $47.40 billion at an average price of $74,010 per Bitcoin.

Path to 700,000 BTC

The recent acquisition of 168 BTC is a continuation of minor purchases, contrasting sharply with its earlier buying spree that averaged around 25,000 BTC monthly during April and May.

At the current average monthly acquisition rate of 5,620 BTC recorded in August and September, it is estimated it will take Strategy about 11 months to reach the goal of 700,000 BTC on its books.

Michael Saylor’s Bitcoin Holdings Source: Strategy

This latest Addition follows a previous buy of 220 BTC for $27.2 million, coinciding with Bitcoin reaching an all-time high of over $126,000 before crashing down to $110,000 on October 10.

Stock Performance of MSTR

Strategy’s BTC purchases come at a time when its Common A stock (MSTR) is experiencing a downtrend, falling back to levels not seen since April 2025. According to TradingView, MSTR’s value fell below $284 last Thursday, reflecting a downturn of 21% since October 5.

Despite these losses, the stock is still up 50.4% from last year, having surged 1,650% over the past five years.

The lowest recorded price of MSTR in 2025 stands at approximately $238, noted on April 7, while the highest point reached above $455 in July.

Although Strategy’s pace of Bitcoin accumulation has slowed significantly, many companies are still following its lead with aggressive BTC treasury strategies.

Related: NAV collapse creates rare opportunity in Bitcoin treasurys — 10x Research

Japanese hotel chain Metaplanet, which initiated a Bitcoin treasury in July 2024, hoarded 30,823 BTC ($34.1 billion) by September’s end, only to see its enterprise valuation drop below its Bitcoin holdings last week. Metaplanet’s market-to-Bitcoin NAV slipped to 0.99 on Tuesday, further plummeting to 0.9 by Saturday.

While the implications of this event remain undetermined, Metaplanet has not made further BTC purchases since their last acquisition announced on September 30.