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Strategy Buys 168 BTC, But Plummeting MSTR/BlackRock Ratio Rings Alarm Bells

Strategy Inc. raised $18.8 million through stock and preferred shares to buy 168 Bitcoin, boosting its total holdings to 640,418 BTC worth about $71 billion.

  • On Monday, Strategy Inc. purchased 168 BTC at $112,051, raising its total holdings to 640,418 BTC valued at roughly $71 billion.
  • The company financed the buy by raising $18.8 million through perpetual preferred shares and common stock, reflecting Michael Saylor's conviction in Bitcoin as a reserve asset.
  • Bitcoin's recent swings show it climbed over $115,000 on Oct. 13 but fell to $103,500 on Oct. 17, while MSTR shares rose about 3% pre-market to just below $300 and trade near $303 after rebounding from $290.
  • Analysts say the move positions Strategy Inc. as a 'shadow ETF,' with the MSTR-to-IBIT ratio at 4.74, its lowest since October 2024, reflecting IBIT's outperformance over the past year.
  • Shifts toward regulated ETFs, with price consolidation between $115,000 and $114,000 and a Parabolic SAR turn to positive, indicating near-term momentum shifts.
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Michael Saylor’s company strengthens its dominance as the world’s largest corporate bitcoin holder as it expands its multimillion dollar financial plan until 2027. A new strategic move that reaffirms its faith in bitcoin Strategy, formerly known as MicroStrategy, continues to expand its already imposing bitcoin treasury. The firm confirmed a new 168 BTC purchase for approximately $18.8 million, at an average price of $112,051 per bitcoin, made b…

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Bitcoin.com broke the news in on Monday, October 20, 2025.
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