As the New Year begins, the world’s largest Bitcoin reserve company, MicroStrategy, has once again taken action, investing over $100 million in Bitcoin within just a few days. Its holdings continue to expand, and the company has simultaneously disclosed the latest equity financing and US dollar reserve movements.
(Previous summary: MicroStrategy has invested an additional $100 million to acquire 1,229 Bitcoins, bringing total holdings to over 672,000 BTC)
(Additional background: MicroStrategy announced last week that it would pause Bitcoin purchases: raising $740 million via ATM to replenish cash reserves, with debt and dividends being urgent priorities?)

Table of Contents

• Early New Year Bitcoin Accumulation
• Funding Source for Bitcoin Purchases: Ordinary Share ATM Issuance
• US Dollar Reserves Reach $2.25 Billion

The world’s largest Bitcoin reserve company, MicroStrategy (Strategy Inc.), issued a new announcement on January 5, Eastern Time, stating that at the start of 2026, it has continued its Bitcoin accumulation strategy. Within just a few days, it has invested heavily again, demonstrating strong confidence in Bitcoin’s long-term value.

Early New Year Bitcoin Accumulation

According to the announcement, MicroStrategy purchased a total of 1,283 Bitcoins (BTC) from January 1 to January 4, 2026, with a total investment of approximately $116 million. The average purchase price was about $90,391 per BTC (including related fees).

After completing this purchase, as of January 4, 2026, MicroStrategy’s total Bitcoin holdings reached 673,783 BTC, with a cumulative investment of about $50.55 billion. The overall average purchase cost is approximately $75,026 per BTC. The company remains the largest publicly listed company holding Bitcoin.

Funding Source for Bitcoin Purchases: Ordinary Share ATM Issuance

The announcement also indicated that the funds used for this Bitcoin purchase mainly came from MicroStrategy raising capital through the ATM (At-The-Market) stock issuance plan by selling common shares.

Specifically, from January 1 to January 4, 2026, MicroStrategy issued 735,000 shares of MSTR common stock, raising approximately $116.3 million. Additionally, from December 29 to December 31, 2025, the company issued 1.256 million shares, raising about $195.9 million.

As for multiple perpetual preferred stocks (including STRF, STRC, STRK, STRD), they were not actually issued during these two periods but still hold substantial available issuance capacity, indicating the company’s high flexibility in capital management.

As of January 4, 2026, the remaining available issuance and sale amounts under the ATM plan for various stock types are:

• MSTR common stock: approximately $11.386 billion
• STRF (10% perpetual preferred stock): approximately $1.619 billion
• STRC (variable rate perpetual preferred stock): approximately $4.042 billion
• STRK (8% perpetual preferred stock): approximately $20.335 billion
• STRD (10% perpetual preferred stock): approximately $4.015 billion

Market analysis suggests that this means MicroStrategy, if it continues its Bitcoin accumulation strategy, still has substantial fundraising capacity.

US Dollar Reserves Reach $2.25 Billion

In addition to Bitcoin and equity financing, MicroStrategy also updated its US dollar reserve (USD Reserve) status. The company stated that these reserves are mainly used to pay preferred stock dividends and outstanding debt interest.

As of January 4, 2026, MicroStrategy’s USD reserve balance was approximately $2.25 billion. The company emphasized that the size and usage of the reserves will be flexibly adjusted based on market conditions, liquidity needs, and other factors.