In October, Strategy recorded one of its weakest months for Bitcoin (BTC) purchases, acquiring just 778 BTC—an impressive 78% drop from September’s total of 3,526 BTC.

Last week, Strategy added 390 BTC to its holdings for around $43.3 million, based on a US Securities and Exchange Commission filing. The average price per Bitcoin during this transaction was $111,117, with Bitcoin briefly surpassing $113,000 later on Tuesday.

Now, Strategy’s total Bitcoin holdings reach 640,808 BTC, which were accumulated at an average cost of approximately $74,032 per coin, totaling around $47.4 billion.

Slowest Bitcoin Buying Month for Strategy

In comparison to the 3,526 BTC it bought in September, October’s volume significantly illustrates the ongoing deceleration in accumulation, especially when juxtaposed with high-month figures of 31,466 BTC and 26,695 BTC seen in July and May.

An analyst from CryptoQuant, JA Maartun, attributed this noteworthy slowdown in Strategy’s buying activity to challenges in raising capital, pointing out a drastic reduction in equity issuance premiums, which fell from 208% to 4%. “While they might not be purchasing large amounts anymore, their commitment remains solid,” Maartun stated in a recent post on X.

Despite the current pace, Strategy has navigated a remarkable 2025 by investing $19.53 billion into Bitcoin acquisitions so far, showing potential to exceed last year’s record of $21.76 billion in BTC investments.

An excerpt from Strategy’s Form 8-K. Source: SEC

Source: JA Maartun

Related: Strategy can buy $100M of Bitcoin within an hour of raising it: Saylor

This recent acquisition of 390 BTC coincided with a decline in the value of Strategy’s stock, MSTR, which saw values fall under $280 after achieving highs around $456 in July.