Institutional Whale Gobbles Up $2.46B Bitcoin—Largest Accumulation Since 2024

Wall Street's crypto playbook just got a violent rewrite.

The Bitcoin Black Hole Effect

Something's sucking up BTC at a rate not seen since the last halving cycle. When nine-figure buys hit the order books, the market notices—especially when it's enough coin to make MicroStrategy blush.

Paper Hands Need Not Apply

This isn't your cousin's 'diamond hands' meme portfolio. The trade reeks of institutional execution—probably some hedge fund realizing their 2% Treasury yields won't cover the caviar budget.

The Real Inflation Hedge

While traditional finance debates whether CPI numbers are cooked, somebody just parked $2.46 billion in the only asset that can't be printed into oblivion. The Fed's balance sheet grows, Bitcoin's ledger stays lean.

Funny how the 'barbarous relic' keeps getting resurrected—this time by the very suits who mocked it. The revolution will be collateralized.

Funded by a Record-Breaking Stock Offering

The $2.46 billion acquisition was funded using proceeds from the company’s recent IPO of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The IPO consisted of over 28 million shares, making it the largest public offering in the U.S. so far in 2025.

Strategy revealed that the STRC stock will be listed on the Nasdaq, becoming the first U.S. exchange-listed perpetual preferred security issued by a Bitcoin treasury company. What makes it even more unique is that it will pay monthly dividends with a rate determined by the board.

Bitcoin Holdings Reach 628,791 BTC

Following this purchase, Strategy’s total Bitcoin holdings have grown to an impressive 628,791 BTC, with an average cost basis of $73,277 per coin. This means the company has invested approximately $46.08 billion in Bitcoin to date.

At the current market value, Strategy’s Bitcoin reserve is worth around $74.04 billion, reflecting a profit of roughly $27.96 billion, or 60.6% gains.

A Look Back at Previous Bitcoin Buys

This latest buy is significant, but not the company’s biggest. In November 2024, Strategy made two massive Bitcoin purchases: one worth $5.43 billion, and another close to $4.59 billion. Compared to those figures, the current acquisition is smaller but still ranks as one of the largest in recent months.

CryptoQuant analyst Maartunn shared a chart on X highlighting the size of Strategy’s recent buys. The chart shows that although this purchase doesn’t top previous records, it still stands out as a strong signal of institutional confidence in Bitcoin.

Shift in Market Behavior: Long-Term Holders Begin Selling

While Strategy continues to accumulate and HODL Bitcoin, other market participants are showing a different trend. According to on-chain analytics platform Glassnode, long-term Bitcoin holders (LTHs) have started selling, and short-term holders (STHs) are increasing their supply.

Glassnode shared a chart displaying the supply ratio between STHs and LTHs. This ratio has declined by 11% in the past month, indicating a rotation of Bitcoin from long-term investors to newer participants. Historically, such trends have been seen before all-time highs (ATHs) in the market.

What Does This Mean for Bitcoin’s Future?

The behavior of major players like Strategy suggests strong long-term confidence in Bitcoin. The company’s increasing BTC reserve and strategic funding methods reflect a clear belief that Bitcoin has room to grow, especially amid global economic uncertainty and rising institutional interest.

At the same time, the drop in the long-term holder supply and increase in short-term positions could indicate near-term volatility or a potential price surge. These types of capital rotations have historically preceded major rallies, as newer investors tend to enter the market when momentum builds.

Final Thoughts

Strategy’s $2.46 billion Bitcoin buy is not just another corporate purchase—it’s a signal to the broader market. With over 628,000 BTC now in its treasury, the company is doubling down on its conviction in Bitcoin as a long-term store of value.

While the rest of the market shows signs of repositioning, Strategy’s approach remains consistent: accumulate, hold, and lead. Whether this signals a new bull run or a strategic hedge against economic instability, one thing is clear—institutional interest in Bitcoin is not slowing down.