Strategy scoops about $1 billion in Bitcoin for second consecutive week

Bitcoin (BTC) treasury and financial intelligence firm Strategy expanded its holdings following another round of weekly accumulation.

The company purchased 10,645 BTC between December 8 and 14 for about $980.3 million at an average price of $92,098 per BTC, according to a filing with the Securities and Exchange Commission (SEC) on Monday.

The move marks the company's second consecutive weekly purchase of nearly $1 billion worth of Bitcoin after scooping 10,624 BTC for $963 million the previous week.

The Virginia-based firm now holds 671,268 BTC, acquired for $50.33 billion at an average price of $74,972 per BTC.

Strategy funded the latest acquisition primarily through stock sales, raising $888.2 million from sales of its Class A common stock, MSTR and an additional $101 million from perpetual preferred stock offerings across its STRK, STRF and STRD series.

The two latest purchases signal a return to the firm's aggressive accumulation strategy after months of subdued buying activity. Strategy's BTC buying pace cooled in the previous quarters, falling from 18.3% in Q1 to 13.1% in Q2 and 7.1% in Q3, before picking up in Q4.

MSTR underperforms amid risk of potential MSCI exclusion

Despite the aggressive accumulation, Strategy's MSTR stock is down 6% at the time of publication on Monday, stretching its decline to 44% in 2025.

The company's underperformance compared to Bitcoin's 6% decline over the same period has inverted most of its share price premium over its net asset value (NAV).

However, Strategy faces mounting pressure beyond market volatility. The firm retained its position in the Nasdaq-100 index after the annual December 12 rebalancing, but a larger challenge looms from MSCI. The index provider is consulting on a proposal to exclude companies whose digital asset holdings exceed 50% of total assets, with a final decision scheduled for January 15, 2026.

In a 12-page letter to MSCI last week, Strategy opposed the proposal, noting that a potential exclusion of crypto treasuries from its indices would undermine the President Donald Trump administration's pro-crypto stance and "harm national security."

JPMorgan analysts estimate that a potential Strategy exclusion from MSCI could trigger up to $8.8 billion in outflows if other index providers follow suit.

Bitcoin is trading near $86,000 at the time of publication, down 3.5% over the past week.