In a daring mid-November move, Strategy (formerly MicroStrategy) started its unrelenting Bitcoin purchase campaign once more, adding 8,178 BTC for roughly $835.6 million at an average price of about $102,171 per coin. Backed mostly by new euro-denominated and more preferred shares, the acquisition pushed the company's total holdings to a stunning 649,870 BTC, purchased at an average price of $74,433 notwithstanding a more than 50% decrease in its own share price this year.
This most recent tranche highlights Strategy's unwavering conviction and brings its total Bitcoin investment to around $48.37 billion. Though Strategy is still gathering new money just to store more sats, its status as the biggest corporate Bitcoin holder by a wide margin is reinforced by its high trading well above the company's average cost basis.
Apart from Strategy: The wider accumulating trend is still intact: on-chain data shows Bitcoin whale wallets (≥1,000 BTC) rising from about 1,350 in 2023 to more than 1,450 by late 2025, U.S. spot Bitcoin ETFs rebounded to net inflows (~$70–71 million in the last week of November) following a brief outflow panic, pushing overall ETF inflows since start near to $57.7 billion. Whales, businesses, and the most
