Michael Saylor’s company Strategy, the largest corporate holder of Bitcoin, has once again expanded its massive BTC treasury. The firm disclosed in a US Securities and Exchange Commission filing that it purchased 850 Bitcoin worth $99.7 million during the week ending Sunday. The move came just days after the US Federal Reserve cut interest rates for the first time this year, sending Bitcoin briefly above $117,000.

Strategy said the latest purchase was made at an average price of $117,344 per coin. The acquisition lifts its total Bitcoin stash to 639,835 BTC, valued at $47.3 billion based on its cost basis, with an average purchase price of $73,971 per coin.

The pace of acquisitions, however, has slowed noticeably. In September, the company bought 3,330 Bitcoin, down from 7,714 BTC in August and far below July’s 31,466 BTC. Saylor has acknowledged the slowdown, pointing to reduced volatility as major institutions enter the space. He suggested Bitcoin may feel “boring” for retail traders seeking excitement, but insisted long-term adoption is strengthening.

While Strategy scales back, others are stepping up. Japan’s Metaplanet revealed a massive 5,419 BTC purchase this week, bringing its total holdings to 25,555 Bitcoin and ranking it as the fifth-largest corporate holder globally.

Saylor’s latest purchase also comes as he prepares to attend a government roundtable on the proposed US Bitcoin reserve bill, known as the BITCOIN Act. Introduced by Senator Cynthia Lummis, the legislation would commit the US to buying 200,000 Bitcoin annually over five years, totaling 1 million BTC.

Strategy’s steady buying underscores Saylor’s conviction that Bitcoin remains the ultimate store of value, even as institutional adoption reshapes market dynamics.