Strategy Discloses 850,364 BTC at $75,456 Average Cost

Strategy disclosed on Nov. 9 that it held 850,364 Bitcoin (BTC) as of Nov. 8, with the average cost of the position rising to $75,456 per coin. The company reported the holdings in a filing published Nov. 9, covering a snapshot taken the previous day.

The numbers land in a regulatory document, not a press release. That distinction matters for a company whose bitcoin treasury is its defining asset. Strategy's disclosure cadence has made its holdings a benchmark the market tracks coin by coin.

The new total is up 4,364 BTC from the company's Sept. 20 snapshot. The pace of accumulation, in other words, continued between the two filings. What does this change for anyone watching the treasury? It sets a fresh, precise baseline: 850,364 coins at a cost basis the company itself has now put on paper.

What the filing says, precisely

The details are worth laying out cleanly:

• Holdings: 850,364 BTC as of Nov. 8, disclosed in a Nov. 9 filing.
• Aggregate cost: approximately $64.16 billion for the full position.
• Average cost: $75,456 per coin, up $40 from the prior disclosed figure.
• Prior snapshot: a Sept. 21 filing listed 846,000 BTC at an average cost of $75,416, as of Sept. 20.
• Sequential change: +4,364 BTC and +$40 per coin between the September and November disclosures.

The $40 jump in average cost is small. It tells you the 4,364 newly added coins were purchased at prices modestly above the blended cost of the existing stack. That is arithmetic, not interpretation. The filing does the interpretation for you.

How the number moved between updates

There is a second comparison hiding in the record. Strategy's Nov. 3 holdings update carried a total of 849,327 BTC. The Nov. 8 figure of 850,364 BTC exceeds that by 1,037 coins. So the accumulation did not stop at the November update. It continued, at a measured clip, in the days between the two disclosures.

Three data points now sit on the table: 846,000 BTC on Sept. 20, 849,327 BTC on Nov. 3, and 850,364 BTC on Nov. 8. Each one arrived through a separate filing. Each one moved the position higher.

Why the cost basis is the number to watch

The aggregate cost of roughly $64.16 billion is the figure shareholders and creditors will scrutinize. It represents committed capital, and it frames every future mark on the treasury. When the market price of bitcoin sits above $75,456, the position carries an unrealized gain on paper. Below it, the reverse holds.

The company has not changed the mechanics of how it reports. Snapshot date, filing date, coin count, average cost. The consistency is the point. It lets outside parties reconstruct the treasury's trajectory from public records alone, which is exactly what happened here when the September and November filings were set side by side.

What comes next

Strategy's next holdings update will show whether the pace held. The filing pattern to date suggests the market will not wait long for the answer — the last three snapshots arrived within a span of about seven weeks.