New York, January 13, 2026, 11:37 EST — Regular session
- Strategy shares jump roughly 3.6% following news of a $1.25 billion bitcoin buy, backed by selling stock
- The company reported it now owns 687,410 bitcoin, having added 13,627 to its holdings just last week
- Director Carl Rickertsen scooped up 5,000 shares, according to an insider purchase filing
Shares of Strategy Inc climbed roughly 3.6% to $168.01 Tuesday morning, buoyed by a 1.6% rise in bitcoin following the company’s announcement of a $1.25 billion crypto purchase. The firm sold about 6.83 million shares and 1.19 million preferred STRC shares, netting approximately $1.25 billion. It deployed those funds to acquire 13,627 bitcoin, paying an average of $91,519 per coin, boosting its total holdings to 687,410. (SEC)
This filing is crucial since Strategy’s stock still acts as a bitcoin proxy, but with a twist: it keeps tapping the equity market to build its bitcoin stash. That move can amplify gains when bitcoin climbs, but hurt shareholders when it drops, thanks to dilution from new shares.
Tuesday’s jump shifts the spotlight onto buying speed. A $1.25 billion weekly purchase can quickly sway sentiment in a stock tossed around by bitcoin volatility and doubts over how long its capital-raising engine can sustain momentum.
Strategy’s at-the-market programme — which allows it to sell shares directly into the open market gradually — once again provided the cash flow. The company’s filing also highlighted unused capacity in its at-the-market programmes, signaling it could issue more shares if it chooses to keep building its stake.
Another filing revealed a director made a purchase as well. On Jan. 12, Carl J. Rickertsen bought 5,000 shares of Strategy’s Class A common stock at a weighted average price of $155.879. After the deal, he reported directly owning 5,000 shares. (SEC)
Executive chairman Michael Saylor, speaking on Techmeme, summed up the transaction with his trademark brevity: “Strategy has acquired 13,627 BTC for ~$1.25 billion.” (Techmeme)
On the Street, Brian Dobson of Clear Street maintained his buy rating but slashed his price target to $268 from $443. He attributed the cut to lower bitcoin prices and treasury yield assumptions, not a change in his outlook. Dobson described the stock as a “compelling entry point,” according to TipRanks. (TipRanks)
Still, the trade isn’t without its drawbacks: dilution and funding risk remain concerns. Barron’s pointed out that Strategy’s enterprise-value premium over its bitcoin holdings has dropped significantly. Investors have also fretted about the burden of financing preferred dividends and other debts when bitcoin’s price dips. (Barron’s)
Right now, the numbers are clear: Strategy’s average bitcoin cost stands at $75,353 per coin as of Jan. 11, according to the filing. The most recent weekly purchase pushed that average even higher. This leaves the stock vulnerable if bitcoin dips again — especially if interest in new Strategy shares fades simultaneously.
Investors are gearing up for the next wave of bitcoin and fundraising updates, along with upcoming quarterly earnings. Strategy is slated to release its results around Feb. 4, according to Zacks. (Zacks)
