In a landmark achievement for corporate cryptocurrency adoption, Strategy—formerly known as MicroStrategy—has surpassed 506,137 Bitcoin (BTC) in its treasury holdings, making it the largest corporate owner of Bitcoin globally. This milestone, confirmed in a recent U.S. Securities and Exchange Commission (SEC) filing dated March 24, 2025, underscores the company’s unwavering commitment to Bitcoin as a core reserve asset.
Between March 17 and March 23, 2025, Strategy acquired an additional 6,911 BTC at an average price of $84,529 per coin**, spending approximately **$584.1 million. This latest purchase brings the company’s total estimated investment in Bitcoin to $33.7 billion**, with an average acquisition cost of **$66,608 per BTC, including fees and expenses.
Holding over half a million BTC equates to roughly 2.4% of Bitcoin’s total fixed supply of 21 million coins, solidifying Strategy’s dominant position in the digital asset space.
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Strategic Financing Behind Massive Bitcoin Accumulation
Strategy’s aggressive Bitcoin acquisition strategy is fueled not by operational cash flow but through innovative capital market instruments. The recent purchase was financed through a combination of common stock sales and the issuance of preferred shares, demonstrating a scalable model for continuous BTC accumulation.
On March 21, 2025, the company priced its latest preferred stock offering: the 10% Series A Perpetual STRF Preferred Stock. Originally targeting $500 million, strong investor demand pushed the final raise to **$722.5 million**.
Additionally, Strategy executed:
- A sale of 1,975,000 shares of its common stock (MSTR), raising approximately $592.6 million
- An issuance of 13,100 shares of STRK preferred stock, generating $1.1 million
These efforts are part of the broader "21/21 Plan", a strategic capital-raising initiative aiming to secure up to $42 billion through equity and fixed-income securities to fund ongoing Bitcoin purchases.
As of March 23, Strategy still had $3.57 billion worth of MSTR shares** and **$20.99 billion worth of STRK shares available for future offerings—indicating substantial runway for further expansion.
This capital markets-driven approach allows Strategy to scale its BTC holdings without relying on traditional business revenues, setting a new precedent in corporate treasury management.
Why Is Strategy Doubling Down on Bitcoin Now?
The timing of Strategy’s latest acquisition aligns with a resurgence in institutional demand for Bitcoin. One key driver is the growing popularity of Bitcoin exchange-traded funds (ETFs), which have become a primary gateway for institutional investors seeking regulated exposure to BTC.
In the week ending March 21, 2025, U.S.-listed Bitcoin ETFs recorded net inflows of $744.4 million, reversing five consecutive weeks of outflows. Notably:
- BlackRock’s iShares Bitcoin Trust (IBIT): +$537.5 million
- Fidelity’s Wise Origin Bitcoin Fund (FBTC): +$136.5 million
This renewed institutional appetite reflects confidence in Bitcoin’s long-term value proposition—particularly as a hedge against inflation and macroeconomic uncertainty.
Michael Saylor, Strategy’s executive chairman and a vocal Bitcoin advocate, reiterated the company’s stance:
“We believe Bitcoin is the ultimate store of value and will continue to acquire it through strategic financing initiatives.”
Even amid geopolitical tensions and trade war concerns—highlighted by Nansen analyst Nicolai Sondergaard as potential market disruptors through early April—Bitcoin’s resilience as a decentralized, scarce digital asset continues to attract strategic investors.
Bitcoin Market Outlook: Momentum Builds in 2025
As of March 23, 2025, Bitcoin traded near $87,821, reflecting strong momentum and positive market sentiment. Strategy’s BTC holdings have delivered a year-to-date return of approximately 7.7%, validating its long-term accumulation strategy.
The company’s SEC filing confirms that its entire BTC portfolio was acquired for an aggregate cost of around $33.7 billion, now representing a significantly higher market value. This unrealized gain strengthens Strategy’s balance sheet and enhances its ability to raise further capital through equity offerings.
Looking ahead, Strategy has made clear its intention to continue expanding its Bitcoin reserves. The firm’s treasury policy is no longer aligned with traditional corporate growth models; instead, it treats Bitcoin as its primary reserve asset, prioritizing digital scarcity over conventional financial instruments.
👉 See how Bitcoin is transforming modern treasury strategies across global corporations.
FAQ: Understanding Strategy’s Bitcoin Strategy
Q: How much Bitcoin does Strategy currently hold?
A: As of March 23, 2025, Strategy holds 506,137 BTC, making it the largest corporate holder worldwide.
Q: What is Strategy’s average purchase price for Bitcoin?
A: Including all fees and expenses, the company's average cost basis is $66,608 per BTC.
Q: How does Strategy fund its Bitcoin purchases?
A: Through capital raised via common stock sales and preferred share offerings, including under its “21/21 Plan” targeting $42 billion in total funding.
Q: Why does Strategy prefer Bitcoin over cash or bonds?
A: The company views Bitcoin as a superior store of value due to its scarcity, durability, and resistance to inflation—qualities it considers lacking in fiat-based assets.
Q: Could regulatory changes impact Strategy’s strategy?
A: Yes. While Bitcoin gains mainstream acceptance, evolving global regulations around crypto assets could affect market dynamics and financing options.
Q: Is Strategy still buying Bitcoin?
A: Yes. The company has consistently stated its intent to continue acquiring BTC as long as capital markets support it.
The Bigger Picture: A Shift in Corporate Finance
Strategy’s approach marks a fundamental shift in how public companies manage capital. Unlike most firms that reinvest profits into product development or share buybacks, Strategy channels capital into acquiring a non-sovereign, decentralized digital asset.
This model challenges traditional views of corporate treasuries and signals growing institutional recognition of Bitcoin as sound money.
Moreover, the success of spot Bitcoin ETFs has created a positive feedback loop: increased institutional adoption → higher liquidity → stronger price performance → greater corporate confidence in holding BTC.
While risks remain—including market volatility and regulatory uncertainty—the trajectory is clear: more organizations are exploring Bitcoin as a strategic reserve asset.
With over $24 billion still available for future securities offerings, Strategy is well-positioned to extend its lead in the corporate Bitcoin race.
👉 Learn how digital assets are redefining corporate treasury management in 2025.
Final Thoughts: A New Era of Digital Treasury Management
Strategy’s journey from software firm to the world’s largest corporate Bitcoin holder exemplifies a broader transformation in finance. By treating Bitcoin as its main treasury asset, the company has redefined value preservation in the digital age.
Its ability to raise billions through capital markets specifically for BTC purchases demonstrates investor confidence in both the company’s vision and the long-term viability of Bitcoin.
As institutional adoption accelerates—driven by ETF inflows, macroeconomic concerns, and technological maturation—Strategy’s early-mover advantage could yield substantial rewards.
While challenges like regulation and price swings persist, the underlying thesis remains strong: Bitcoin offers unmatched scarcity and censorship resistance, making it an ideal long-term store of value.
For forward-thinking corporations watching Strategy’s success, the message is clear—digital assets are no longer fringe investments but central components of modern financial strategy.
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