Bitcoin (BTCUSD) treasury and analytics company Strategy (MSTR) (formerly MicroStrategy) is taking advantage of the crypto winter by making significant purchases of the world’s largest cryptocurrency. Recently, the company added 13,627 tokens of Bitcoin for $1.25 billion, bringing their total holdings to 687,410 coins. This move comes after Strategy invested over a hundred million dollars last week, with an average purchase price of $91,519 per token.
Despite Bitcoin’s underperformance compared to traditional risk-off assets like gold, silver, and copper, Strategy remains optimistic about the cryptocurrency’s future. CEO Michael Saylor predicts that Bitcoin could reach $1 million per token by 2029, representing a significant increase from its current value.
In terms of financials, Strategy boasts a market cap of $46.6 billion, with shares down 46% over the past year. However, the company’s digital assets haul is valued at $73.2 billion, indicating that it may be undervalued. Additionally, Strategy holds a cash balance of $54.3 million as of the end of the September 2025 quarter.
Furthermore, Strategy’s BTC yield has increased to 26% as of Oct. 26, 2025, up from 17.8% the previous year. The company’s Bitcoin holdings have also grown to 640,808 tokens from 252,220 in the previous year.
In addition to its Bitcoin investments, Strategy’s software business has seen growth, with total revenues rising by 11% in Q3 2025. The company’s core growth strategy revolves around increasing Bitcoin exposure through a combination of equity and debt issuances to fund additional acquisitions.
While Bitcoin remains the primary driver of value for Strategy, the company continues to position its software operations as a source of recurring revenue to support its broader Bitcoin treasury strategy. However, challenges such as growing competition and dilution risk from convertible notes remain significant concerns.
Analysts have given Strategy a “Strong Buy” rating, with a mean target price of $473.79, indicating a potential upside of 174% from current levels. Out of 16 analysts covering the stock, 13 have a “Strong Buy” rating, while one has a “Moderate Buy” rating and two have a “Hold” rating.
Overall, Strategy’s strategic approach to Bitcoin investment and its diversified revenue streams make it an intriguing investment opportunity for those bullish on the long-term prospects of cryptocurrency.
