Strategy Inc. (formerly MicroStrategy) has reinforced its position as the world’s largest corporate Bitcoin holder, adding 525 BTC worth approximately $60.2 million to its balance sheet between September 8 and 14, 2025. The purchase, disclosed in an SEC filing, brings the company’s total holdings to an astonishing 638,985 BTC, worth around $73.4 billion at current prices.
A Massive Bitcoin Treasury Strategy
The company’s latest buy was executed at an average price of $114,562 per BTC. According to co-founder and executive chairman Michael Saylor, Strategy has accumulated its Bitcoin trove at an average cost of $73,913 per coin, implying an unrealized gain of over $26 billion.
With this acquisition, Strategy now controls over 3% of Bitcoin’s maximum 21 million supply, cementing its reputation as the global pioneer of the corporate Bitcoin treasury model.
Preferred Stock Sales Fuel Purchases
The acquisition was funded by proceeds from Strategy’s perpetual preferred stock offerings, including STRK, STRF, STRD, and STRC. These specialized instruments are part of the firm’s ambitious “42/42 Plan”—recently expanded to an $84 billion program—which combines equity offerings and convertible notes to fund Bitcoin acquisitions through 2027.
Each preferred stock carries unique features:
- STRK: Convertible, 8% dividend, with equity upside.
- STRF: Non-convertible, 10% cumulative dividend (most conservative).
- STRD: Non-convertible, 10% non-cumulative dividend (highest risk-reward).
- STRC: Variable-rate, cumulative, with monthly adjustable dividends.
This diversified structure allows Strategy to raise capital while managing risk across investor profiles.
“Bitcoin Deserves Credit”
Saylor hinted at the acquisition ahead of time, posting “Bitcoin deserves credit” on Strategy’s Bitcoin tracker. His public advocacy continues to drive institutional interest in Bitcoin as a reserve asset, even amid volatility and regulatory uncertainty.
Despite its dominance, Strategy recently faced setbacks, including being snubbed from S&P 500 inclusion in favor of AppLovin, Robinhood, and EMCOR Group. Analysts called the exclusion “bias against Bitcoin,” likening it to earlier rejections of Tesla and Facebook before their eventual index inclusion.
The Corporate Bitcoin Treasury Movement
According to Bitcoin Treasuries data, 171 public companies now hold BTC. The top 10 include Marathon Digital (52,477 BTC), Tether-backed Twenty One (43,514 BTC), Bitcoin Standard Treasury Co. (30,021 BTC), Bullish (24,000 BTC), and others.
Still, Strategy remains unmatched in scale, holding more than 12 times the Bitcoin of its nearest competitor.
While Strategy’s stock (MSTR) has fallen 27% since summer highs, it maintains a $94 billion market cap, trading at a premium to its net Bitcoin value. Saylor insists the firm’s capital structure can endure a 90% Bitcoin price drop for up to five years, although shareholders would face heavy losses.
For now, Strategy’s relentless accumulation highlights its unwavering belief in Bitcoin as a primary treasury reserve asset—a conviction that continues to influence corporations, investors, and regulators worldwide.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.