Bitcoin’s wild week of volatility hasn’t dampened institutional appetite for the world’s largest cryptocurrency. Just days after a record $20 billion liquidation event shook global crypto markets, two of the biggest corporate Bitcoin holders — MARA Holdings (NASDAQ: MARA) and Strategy (NASDAQ: MSTR) — have doubled down, adding hundreds of BTC to their already massive reserves.
These latest purchases underscore a shared conviction: the bearish correction was temporary, and Bitcoin’s long-term bullish price prediction remains intact.
MARA buys 400 BTC after historic crash
Bitcoin miner MARA Holdings has strengthened its position as one of the largest corporate holders of Bitcoin, purchasing 400 BTC worth $46.29 million through liquidity provider FalconX shortly after the market crash.
The acquisition was executed via MARA’s “3MYao” wallet and confirmed by blockchain analytics firm Onchain Lens, which also noted a separate transfer of 500 BTC from BitGo to a newly created wallet during the same window.
The buy came in the immediate aftermath of a dramatic sell-off that saw Bitcoin (BTC) tumble from $121,000 to just above $106,000, triggered by renewed US–China trade tensions.
President Trump’s announcement of steep tariff increases on Chinese imports sent shockwaves through global markets, prompting over $19 billion in crypto liquidations and the largest wave of trader wipeouts in history.
Despite the chaos, MARA’s move signals confidence in Bitcoin’s resilience.
Analysts believe the miner is capitalizing on macroeconomic uncertainty and anticipating a rebound driven by easing oil prices and potential rate cuts.
Pav Hundal, lead market analyst at Swyftx, said MARA’s swift action after the crash “shows long-term conviction in Bitcoin’s role as a strategic asset,” describing the market’s recovery as a typical post-liquidation reset.
As Bitcoin prices rebounded above $115,000, MARA’s total holdings rose to over 53,000 BTC, valued at more than $6 billion.
This purchase cements the company’s position as the second-largest corporate Bitcoin holder, behind only Strategy.
CEO Dean Serroni of Merkle Tree Capital called the recovery a “textbook relief rally,” noting that the volatility flushed out overleveraged traders and reset the market for further institutional accumulation.
MARA’s growing reserves also come amid a broader expansion into artificial intelligence (AI) and high-performance computing partnerships, signaling the company’s intent to diversify its revenue streams while maintaining a Bitcoin-heavy balance sheet.
In addition, the purchase, made just hours after markets began stabilizing, highlights how the miner continues to treat volatility as an opportunity rather than a threat.
Strategy purchases 220 bitcoins
At the same time, Strategy — the company formerly known as MicroStrategy — has once again reaffirmed its reputation as the corporate face of Bitcoin accumulation.
According to a press release shared on Monday, the firm purchased 220 BTC for about $27.2 million at an average price of $123,561 per coin between October 6 and 12.
The purchase, funded through proceeds from the issuance of its perpetual preferred stock programs, brings Strategy’s total Bitcoin stash to 640,250 BTC, worth roughly $73 billion at current market prices.
Executive Chairman Michael Saylor announced the purchase with a characteristically bullish message on social media: “Don’t Stop ₿elievin.” His enthusiasm mirrors the company’s long-term commitment to making Bitcoin the centerpiece of its treasury strategy.
Strategy’s holdings now represent about 3% of Bitcoin’s total 21 million supply, giving it unparalleled exposure among public companies.
Notably, the BTC purchase follows the company’s “42/42 Plan,” an expanded initiative aiming to raise up to $84 billion in equity offerings and convertible notes for future Bitcoin acquisitions by 2027.
This aggressive approach continues to position Strategy as the largest institutional Bitcoin holder in the world, far surpassing other major corporate players such as MARA, Metaplanet, and Tether-backed Twenty One.
According to the firm’s latest filings, Strategy holds unrealized gains of nearly $25.6 billion on its Bitcoin holdings, even after accounting for a $1.12 billion deferred tax expense. The company’s balance sheet now reflects total digital assets valued at over $73 billion, underscoring how deeply integrated Bitcoin has become within its corporate identity.
Both MARA Holdings and Strategy appear unfazed by the latest bout of market turbulence. Their combined purchases — totaling 620 BTC worth more than $73 million — reinforce the message that institutional conviction in Bitcoin remains strong despite short-term volatility.