Michael Saylor is back in buying mode.

Strategy announced Tuesday that it purchased roughly $2.13 billion worth of Bitcoin over the past eight days, adding 22,305 BTC between January 12 and January 19, according to a regulatory filing. 

In a post on X, Michael Saylor said Strategy now holds 709,715 bitcoin as of January 19… a position that represents roughly 3% of Bitcoin’s total supply and further cements the company as the largest corporate holder of the cryptocurrency.

The buying spree took place even as crypto volatility weighed on the stock. Shares of MSTR slid about 7% on Tuesday as Bitcoin fell roughly 2.4%, underscoring just how tightly Strategy’s share price tracks moves in the underlying asset.

Strategy said the purchases were funded through proceeds from its at-the-market equity offering program, continuing a playbook it has leaned on for years. Earlier this month, the company disclosed an unrealized loss of $17.44 billion on its digital assets in the fourth quarter, reflecting Bitcoin’s decline during the period. 

The loss didn’t involve cash, but it still spooked investors… especially with crypto prices already bouncing around. Even so, Strategy kept buying. From January 5 to January 11, the company made its biggest Bitcoin purchase since July 2025, scooping up 13,627 BTC for $1.25 billion.

Interest in Strategy hasn’t been limited to retail investors. The Louisiana State Employees’ Retirement System recently disclosed a small stake in the company, giving the pension fund indirect exposure to Bitcoin through MSTR shares. The disclosure came as Saylor publicly hinted that Strategy could continue increasing its Bitcoin holdings.

The company also avoided a potential setback earlier this month after MSCI opted not to exclude digital asset treasury companies from its indices, sparing Strategy from possible removal and offering a measure of validation for firms that hold cryptocurrencies as treasury assets rather than traditional cash.

Year to date, Strategy shares are up 10.53%, though the stock remains down 55.36% over the past year, reflecting the boom-and-bust nature of both Bitcoin and Strategy’s leveraged exposure to it. Speculation around further purchases intensified after Saylor posted “Bigger Orange” on X on January 18, alongside a chart showing Strategy’s Bitcoin accumulation since 2020.

Investors will get their next official update when Strategy reports fourth-quarter earnings on February 5, shortly after market close. Until then, the message from Saylor appears unchanged… volatility or not, Strategy is still buying.

At the time of publishing this article, Stocks.News holds positions in Strategy, Bitcoin, and Ethereum as mentioned in the article.