Strategy, formerly MicroStrategy, has continued its aggressive Bitcoin acquisition strategy with another purchase. The company revealed in a press release that it bought 430 BTC for $51.4 million at an average price of $119,666 per coin. The move comes at a time when both Bitcoin and Strategy’s stock, MSTR, are facing a market correction.

Strategy Adds 430 BTC to Its Treasury Holdings

According to the filing with the U.S. Securities and Exchange Commission (SEC), the firm acquired the Bitcoin using proceeds from equity sales. The company raised $19.3 million from STRK shares, $19 million from STRF shares, and $12.1 million from STRD shares. These funds were then used to finance the latest purchase.

The filing showed that the firm now holds 629,376 BTC, which represents nearly 3% of the total Bitcoin supply. The accumulated BTC has been purchased for $46.15 billion at an average cost of $73,320 per Bitcoin. This strategy has made the company the largest corporate holder of Bitcoin globally.

This is the third straight week that the firm has increased its Bitcoin holdings. Just last week, the company added 155 BTC for $18 million. Michael Saylor, co-founder and executive chairman, hinted at the latest acquisition through a social media post where he wrote, “Insufficient Orange.”

Insufficient Orange pic.twitter.com/QcRT0RTzEg

— Michael Saylor (@saylor) August 17, 2025

New Capital Guidance for Bitcoin Purchases

Alongside the latest acquisition, the company issued updated guidance regarding its equity At-The-Market (ATM) program. The guidance is structured around the company’s modified Net Asset Value (mNAV).

Strategy stated that it will “actively” issue MSTR shares to buy Bitcoin when mNAV is above 4.0x. When the mNAV is between 2.5x and 4.0x, share issuance will be “opportunistic.” If the mNAV falls below 2.5x, proceeds will be directed to service debt obligations and fund dividends on preferred equity. Should the mNAV decline to under 1.0x, the firm may issue credit to repurchase MSTR shares.

Strategy today announced an update to its MSTR Equity ATM Guidance to provide greater flexibility in executing our capital markets strategy. pic.twitter.com/xSwwcWubIq

— Michael Saylor (@saylor) August 18, 2025

This approach provides the company with greater flexibility in executing its capital markets plan. The SEC filing noted that the structure is designed to balance the growth of the Bitcoin treasury with shareholder returns.

Bitcoin and MSTR Face Market Correction

The purchase comes amid market volatility for both Bitcoin and MSTR. Data from CoinMarketCap shows that Bitcoin has dropped by nearly 5% in the past week, slipping below the $115,000 mark. At the same time, MSTR has lost more than 8% in the last five trading sessions.

According to TradingView data, the stock has fallen from $366 last week to around $358. Given the company’s direct exposure to Bitcoin, MSTR often follows the movements of the cryptocurrency. Another asset management company, Vanguard, also sold part of its holding in the company by 10 percent, which further applies additional bearish pressure to the stock.

Bitcoin and MSTR are both positive on a year-to-date basis despite the current downtrend. Bitcoin has appreciated almost 22 percent since January, with MSTR up more than 174 percent in the past year. Even though short-term volatility in Bitcoin exists, the long-term strategy of the company is still to build its Bitcoin treasury.