Strategy’s Bitcoin Megapile: Why They Now Hold Over 500,000 BTC
Michael Saylor’s company Strategy (ex-MicroStrategy) just bought 6,556 more Bitcoin, spending over $555 million. This brings their total holdings to a staggering 538,200 BTC, worth more than $50 billion at today’s prices. Let’s break down why this matters and what it means for the future of crypto and corporate finance.
📊 Overview of Latest Acquisition
| Detail | Value |
|---|---|
| Acquisition period | April 14 to April 20, 2025 |
| Total BTC acquired | 6,556 |
| Average price per BTC | 84,785 USD |
| Total cost | 555,838,000 USD |
| Source of funds | Sale of common and preferred shares |
| Reporting date | April 22, 2025 |
The 6,556 Bitcoin were acquired over a period of one week. The purchase was funded through the issuance of approximately 1.76 million common shares and over 91,000 shares of Series B preferred stock. The transaction raised approximately 555.5 million US dollars, which was then used to acquire the Bitcoin directly.
🧾 Company’s Total Bitcoin Holdings After Purchase
| Metric | Value |
|---|---|
| Total Bitcoin held | 538,200 BTC |
| Total acquisition cost (cumulative) | 6,670,000,000 USD |
| Average acquisition cost per BTC | 67,766 USD (estimated) |
| Market value at reporting | Over 50 billion USD (based on ~93,000 USD/BTC) |
| Estimated share of total supply | 2.56 percent (of 21 million maximum supply) |
Strategy has been acquiring Bitcoin since August 2020. Each acquisition is documented in SEC filings. The company has not sold any of its Bitcoin holdings since it began accumulating them.
🧠 Strategic Rationale
Strategy classifies Bitcoin as its primary treasury asset. According to official statements, the company views Bitcoin as a reliable store of value and a superior alternative to holding cash or traditional financial assets. All acquisitions are intended to be held long term.
The funding model relies on selling company equity, including common and preferred shares. This enables the company to convert fiat proceeds into Bitcoin while preserving liquidity and avoiding debt accumulation.
The company has not issued a target cap for total Bitcoin holdings. It continues to acquire based on available capital and market conditions.
📉 Market Implications
- Strategy controls a significant portion of circulating Bitcoin, limiting liquid supply
- The company’s stock is increasingly correlated with Bitcoin price movements
- Institutional investors may follow this model to integrate digital assets into treasury strategies
Equity-based acquisitions tie future Bitcoin purchases to shareholder approval and stock perform.
📝 Compliance and Custody Information
- All Bitcoin purchases are disclosed through public regulatory filings
- Holdings are either self-custodied or stored via regulated institutional custodians
- No lending, margin trading, or derivative instruments are involved
- The company does not provide timelines or exit strategies for its Bitcoin holdings
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Bibliography
Official SEC Filings & Bitcoin Treasury Data
CoinDesk. (2025, April 22). Strategy buys $555M of Bitcoin, increases total stash to 538,200 BTC. Retrieved from: https://www.coindesk.com/markets/2025/04/21/strategy-buys-usd555m-of-bitcoin-increases-total-stash-to-538-200-btc/
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