Strategy Doubles Down: Half a Million Bitcoins and Counting

In another assertive move underscoring its conviction in Bitcoin, Strategy—formerly MicroStrategy—has pushed its crypto holdings past the half-million mark. Between March 17 and 23, 2025, the Michael Saylor-led company acquired 6,911 more bitcoins for approximately $584.1 million, averaging $84,529 per token. This brings Strategy’s total Bitcoin stash to 506,137 BTC, purchased at a cumulative cost of $33.7 billion, or an average of $66,608 per coin.

To fund this latest buy, the company issued 1.975 million shares of common stock, raising $592.6 million. This move is part of its broader playbook: using equity to fuel an aggressive, unapologetic Bitcoin strategy.

The timing was no accident. Bitcoin surged over the weekend to top $87,000, pushing MSTR shares up 4.8% in premarket trading. Strategy’s substantial unrealized gains—now well into the billions—are a clear payoff for its long-term, high-conviction bet.

Also worth noting: Strategy’s recent preferred stock offering, STRF, quietly priced last week at $711 million. Only a small portion has been sold so far, pulling in about $1.1 million to date.

With over half a million bitcoins now on the books, Strategy remains unmatched among public companies when it comes to crypto exposure. Michael Saylor’s leadership continues to position Bitcoin not just as a treasury asset, but as a philosophical stance on the future of money.

As institutions tread carefully into the digital asset space, Strategy sprints forward—converting shareholder capital into what it views as digital gold. The message is loud and clear: in a fiat-heavy world, Bitcoin is the bedrock on which this company is building its future.

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