How Strategy Keeps Buying Bitcoin During Market Downturns 2025

Strategy keeps buying Bitcoin during downturns by tapping equity markets and reserves, turning dilution and financing costs into a repeatable accumulation engine.

Strategy funds its dip buying primarily through ATM equity sales rather than operating cash flow.

Preferred shares and other financing tools add buying power but create ongoing dividend and interest obligations.

A $1.44-billion reserve is intended to reduce “forced seller” concerns during prolonged market slumps.

The model’s constraint is the cost of capital. Dilution risk, market sentiment and index rule changes can tighten the loop.

Strategy just spent another $980.3 million on Bitcoin (BTC), adding 10,645 BTC at an average price of $92,098 and lifting its total holdings to 671,268 BTC.

It’s the kind of headline the company has trained the market to expect. When price weakness shows up, Strategy treats it like inventory season.

What makes this round more interesting is the backdrop. Bitcoin has been sliding sharply from recent highs, and Strategy’s own stock often feels that drawdown as a leveraged proxy.

At the same time, the firm has been building a $1.44-billion reserve to calm concerns that dividend and interest obligations could eventually force a Bitcoin sale during a prolonged slump.

So, the real question isn’t whether Strategy wants to buy dips; it’s how it keeps finding the money to do it and how durable that machine is if markets stay ugly.

Source: CoinTelegraph