Bitcoin drops, but Strategy keeps accumulating

Bitcoin repeats its usual pattern: sudden surge, then slip, ahead of a key FED decision. After flirting with 117,000 dollars, it fell back below 115,000. This move no longer really surprises the crypto community, used to seeing BTC test investors’ nerves. For some, this volatility remains a danger. For Strategy, it is quite the opposite: an opportunity. The company, known for its bold bets, did not hesitate. It struck again, filling its vaults with new digital coins. 

When Bitcoin price falls, Strategy doubles down

Between September 8 and 14, Strategy acquired 525 BTC for 60.2 million dollars, at a bitcoin price average of 114,562 dollars per coin. Result: it now holds 638,985 BTC, about 3% of the total bitcoin supply. 

With an average acquisition price set at 73,913 dollars, the portfolio is valued at nearly 73.4 billion, for a total cost of 47.2 billion.

The story seems to repeat. Each correction becomes a pretext for accumulation. Michael Saylor, founder of Strategy, summed up this conviction: “Bitcoin deserves credit“. 

His words recall an idea he has repeated for years: BTC must be considered as a store of value, on par with, if not beyond, gold. 

While many crypto investors scrutinize every market movement, the company always positions itself for the long term, indifferent to waves of volatility.

Whales speculate, institutions stabilize

Strategy’s strategy contrasts with movements of some whales. Recently, an old wallet transferred 1,176 BTC, worth 136 million dollars, to Hyperliquid, resuming a selling spree started in August with 35,991 BTC liquidated in Ether. 

This type of operation weighs heavily on the market. However, despite these volumes, bitcoin held firm, hovering around 116,000 dollars.

This contrast is telling: whales speculate, institutions absorb. The former move mountains of BTC according to their strategies. The latter build a lasting presence, anchored in time. 

In 2025, companies now hold over one million BTC, about 5% of the total circulating supply. The dynamic is clear: nearly 171 public companies now have BTC on their balance sheets.

Thus, the crypto market stabilizes. Massive sell-offs no longer lead to the plunges of the past because institutions like Strategy act as counterweights against speculative giants.

Corporate treasuries: a bulwark for Bitcoin

Strategy remains the undisputed leader. With its 638,985 BTC, valued at 73.4 billion dollars, the company shows unrealized gains estimated at 26 billion. It far surpasses competitors such as MARA, Coinbase, or CleanSpark, which also strengthen their bitcoin holdings. 

This strength comes with a paradox: despite record reserves, MSTR shares gained only 10.4% in 2025, against 23% for BTC.

Key figures to remember:

• 638,985 BTC: current Strategy reserves;
• 171 companies: public companies holding bitcoin;
• 73.4 billion dollars: value of Strategy’s BTC portfolio;
• 5% of the worldwide supply: now in the hands of corporate treasuries.

This dynamic illustrates a profound change. Bitcoin is no longer seen only as a speculative asset but as a treasury instrument. Yet Wall Street remains skeptical: Strategy was excluded from the S&P 500. Between growing adoption and institutional recognition, a gap remains.

As BTC continues to test investors’ patience, another voice offers its prediction. Glassnode analysts anticipate that the crypto market has not said its last word. According to them, a new peak is expected in the coming weeks. The rest of the story could therefore be played out on a new record high, driven both by institutional adoption and the intact confidence of its supporters.