Strategy was responsible for as much as 97.5% of all bitcoin buys from public companies in January

Bitcoin treasury company Strategy accounted for as much as 97.5% of all bitcoin purchases in January made by public companies, “single‑handedly bringing sector‑wide buying back to levels last seen in late summer,” according to a Thursday research report from data analytics firm Bitcoin Treasuries.

Strategy ended last month with 712,647 BTC on its balance sheet, or $47.9 billion, buying 40,150 BTC in January.

MSTR, Strategy’s class A common stock, is trading under the $122 level, while the price of bitcoin sits at the $67,800 mark, both down around 20% since the start of the year.

Meanwhile, asset manager Geode Capital Management boosted its exposure to Strategy and also bought into Trump-backed American Bitcoin, a 13F SEC filing on Monday shows. 

The investment firm, which has over $1 trillion in assets under management, added 175,343 shares of Strategy’s class A common stock since the previous quarter, bringing its total MSTR share count to 3.9 million, worth $477.4 million.

Geode also acquired 1.6 million shares of American Bitcoin, worth $1.8 million, a change from last quarter when the firm didn’t have a stake in the Trump-backed bitcoin treasury firm.