Strategy's holdings have broken through 680,000 BTC. The difference between the average cost and the current price indicates what?

Strategy once again announces an increase in Bitcoin holdings, this time adding 13,627 coins, bringing the total holdings to 687,410 coins. The story behind this number not only reflects the company’s dedication to Bitcoin but also reveals the true attitude of institutional investors in the current market.

The Significance of Record High Holdings

According to the latest news, Strategy’s recent purchase is valued at approximately $1.25 billion, with an average acquisition price of $91,519 per coin. As of January 11, 2026, the company has accumulated a total of 687,410 Bitcoin, with a total investment of about $51.8 billion and an average purchase price of approximately $75,353 per coin.

How large is this number? Considering the global circulating supply of Bitcoin, which is about 19.97 million coins, Strategy’s holdings account for approximately 3.45%. In other words, out of every 100 Bitcoins in circulation worldwide, about 3.5 are held by Strategy. This is no longer just a simple holding but a deep market participation.

The Implication Behind Price Differences

More noteworthy is the data related to price levels. Strategy’s average purchase price is $75,353 per coin, while the average price for this recent increase is $91,519 per coin. What does this $38,000 difference indicate?

• The gains from early low-cost positioning are already substantial
• Continuing to buy at higher prices demonstrates the company’s confidence in long-term value
• The current BTC price is about $90,674, close to the cost basis of this purchase, indicating the market remains within a reasonable range

Strategy’s Long-Term Strategic Logic

Strategy founder Michael Saylor has recently stated multiple times that Bitcoin, Nvidia, and Strategy itself are the top-performing assets over the past decade. This is not just a simple investment choice but a comprehensive asset allocation philosophy.

In his recent remarks, Saylor mentioned that for young people in their twenties and thirties, Bitcoin’s volatility is a gift. This statement reflects:

• A firm belief in Bitcoin’s long-term value
• A rational view of short-term fluctuations
• The ongoing execution of institutional holding strategies

Strategy’s pace of accumulation is also worth noting. According to related information, the company follows a regular pattern of increasing holdings, usually announcing purchase details the day after releasing specific information. This orderly, planned approach to accumulation sharply contrasts with retail investors’ impulsive trading.

Market Counterparty Reactions

Interestingly, related news shows that Strategy’s “counterparty” whale address has recently closed positions worth over $80 million. This address, considered to be Strategy’s on-chain counterparty, previously established a $120 million BTC short position on Hyperliquid, but is now gradually reducing its holdings. This could imply:

• The bearish outlook on Strategy’s continuous accumulation strategy is easing
• Market recognition of institutional holdings is increasing
• Short-term traders’ confidence is waning

Summary

Strategy’s 687,410 Bitcoin holdings have become an influential force in the market. From a total investment of $51.8 billion to an average cost basis of $75,353, this company exemplifies the significance of long-term holding through concrete actions. Continuing to accumulate near the $90,000 price level also demonstrates confidence in Bitcoin’s long-term value. For market observers, each of Strategy’s purchases is worth noting, as it represents the true judgment of institutional capital on Bitcoin’s future.