Strategy Pauses Bitcoin Buys Despite All-Time High Surge

Michael Saylor’s firm, Strategy, the world’s largest corporate holder of Bitcoin (BTC), has paused its regular weekly purchases of Bitcoin. This pause comes even as Bitcoin rose by 10% and reached a new all-time high last week. 

An 8-K filing with the U.S. Securities and Exchange Commission (SEC) shows that the company did not buy any new Bitcoin between September 29 and October 5, 2025. Meanwhile, this decision is a short break from Saylor’s usual practice of buying Bitcoin frequently. 

Strategy Still Remains the Largest BTC Holder

As of the latest filing, Strategy holds a total of 640,031 BTC, which is more than 3% of Bitcoin’s total supply of 21 million. 

This BTC was bought at an average price of $73,983 per Bitcoin, for a total cost of around $47.4 billion, including fees and expenses. At current market prices, this large amount is worth about $80 billion, which is about $33 billion of paper gains. 

It is worth noting that Michael Saylor hinted at a pause in Bitcoin purchases ahead of time. In a post on X, he said, “No new orange dots this week—just a $9 billion reminder why we HODL.” This comment showed his long-term commitment to Bitcoin and acknowledged the pause in buying during a bullish market week.

Meanwhile, analysts believe this pause could be a strategic decision. It may be influenced by company financial planning, regulatory issues, or a desire to hold onto investments after a significant increase in market value. Others think it is a temporary move and expect that Strategy will start buying once market conditions stabilize or go down.

Strategy Outpaces Banks and Matches Nations

Intriguingly, the digital asset treasury firm has reached an unprecedented milestone. Its Bitcoin holdings now exceed the market capitalization of several leading banks and on par with the gross domestic product of some countries.

It is no doubt that the scale of Strategy’s Bitcoin treasury eclipses the market cap of BNY Mellon, Sberbank, US Bancorp, CIBC, Barclays, Deutsche Bank, ANZ Bank, and Lloyds. At current valuations, the firm’s stash is comparable to the GDP of Uruguay, Sri Lanka, or Slovenia. This means the Bitcoin pile is worth as much as the entire annual economic output of those nations. 

By comparison, the next largest digital asset treasury, MARA Holdings, manages 52,850 BTC valued at $6.6 billion. This is just a fraction of Strategy’s enormous lead. While nation-states and companies alike jockey for Bitcoin exposure, Strategy has cemented its role as the dominant player. Notably, the firm has become the “800-pound gorilla” of digital asset treasuries.

Strategy Says Its Bitcoin Buys Do Not Move Market

Recall that Strategy says its massive acquisitions are carefully executed so as not to influence the cryptocurrency’s price. Shirish Jajodia, Strategy’s corporate treasurer, explained that the company manages its purchases to remain in proportion with available market liquidity. This ensures Strategy’s entry does not distort the trading environment.

Large institutional buyers typically use over-the-counter (OTC) desks to execute such trades privately. As such, it avoids slippage that occurs when enormous buy orders are placed on public exchanges. While speculation often swirls that Strategy’s buys directly push Bitcoin higher, historical data shows mixed outcomes.