Michael Saylor’s Strategy Adds $217M in Bitcoin Despite S&P 500 Snub

     

Firm’s BTC stash grows to 638,460 as buying pace slows but conviction remains

Michael Saylor’s Bitcoin-heavy company Strategy has continued adding to its massive crypto treasury, acquiring 1,955 BTC worth $217.4 million between Sept. 2 and 7, according to a US SEC filing released Tuesday.

The purchase, made at an average of $111,196 per coin, boosted Strategy’s total holdings to 638,460 BTC, valued at roughly $47.2 billion. The firm’s average acquisition price stands at $73,880 per Bitcoin.

Accumulation pace moderates

The buy follows August’s haul of 7,714 BTC — far below July’s blockbuster 31,466 BTC purchase and June’s 17,075 BTC buy. Strategy financed the latest acquisition through proceeds from three equity offerings, including Series A Strife (STRF), Series A Strike (STRK), and its Class A common stock MSTR.

While the pace has slowed, Strategy remains the world’s largest corporate holder of Bitcoin by a wide margin.

Excluded from S&P 500

The purchase comes just days after Strategy was left out of the S&P 500 index reshuffle, defying expectations that the Bitcoin giant would be added. Instead, new entrants included Robinhood, AppLovin, and Emcor Group, set to join Sept. 22.

ETF analyst Eric Balchunas underscored the role of the index’s “secretive committee” in the decision. “You have to realize SPX is essentially an active fund run by a secret committee,” Balchunas wrote on X, recalling past discussions about how the S&P 500 additions are determined.