Strategy's Bitcoin holdings grow 12x to 840,447 BTC in six years

Six years after a $250 million bet that Wall Street called reckless, Strategy's Bitcoin treasury has grown 12-fold to 840,447 BTC.

Six years after its first purchase, Strategy holds 840,447 BTC, a 12x increase from the 21,454 coins bought for $250 million on Aug. 11, 2020.

The company, which rebranded from MicroStrategy in February 2025, discloses every transaction through SEC filings, giving investors an auditable view of its cost basis and holdings, according to the filings.

Strategy acquired its stash for $63.36 billion at an average price of $75,385 per Bitcoin, per its latest filing. That stake equals roughly 4 percent of Bitcoin's hard-capped 21 million supply, a concentration no other public company approaches. The company has leaned on equity and preferred-stock issuance to fund accumulation, raising $653.1 million from 6.59 million common shares in its most recent week and directing $650 million to a USD reserve that now stands at $4.65 billion.

The milestone shows how a single corporate buyer can reshape a fixed-supply market. Strategy's buying removes coins from circulation, and its equity-funded feedback loop — higher MSTR stock, more capital, more Bitcoin — compounds on the way up. But the model cuts both ways: shareholders absorb dilution, and the ability to raise fresh capital tightens when Bitcoin falls.

From software firm to Bitcoin vault

By Dec. 21, 2020, just months after the inaugural buy, Strategy had amassed roughly 70,470 BTC. As recently as June 2026 it added another 1,550 BTC. The company has also sold small amounts — 1,690 BTC and 32 BTC earlier in 2026 — to manage liquidity needs such as dividend payments and other corporate expenses. The 1,690 BTC went at an average price of $64,262, net of fees, with proceeds used to repurchase 1.15 million shares of its STRC preferred stock.

Michael Saylor, who moved from chief executive to executive chairman, has been the center of the strategy from day one. The enterprise software business that once defined MicroStrategy is now a sidecar to a Bitcoin holding company trading on NASDAQ under MSTR.

What 4 percent of supply means for markets

Bitcoin's supply is permanently capped at 21 million coins, and millions more are estimated to be lost or inaccessible. A single entity holding 4 percent of that fixed supply is significant by any measure. Strategy's persistent buying represents steady demand that removes Bitcoin from the open market, while its equity-funded purchases create a loop that works on the way up and tightens on the way down.

Bitcoin was changing hands near $65,000 as of the latest filing, with MSTR and STRC both up 0.5 percent in pre-market trading. Every dollar move in Bitcoin's price echoes through Strategy's balance sheet against a mid-$70,000s average cost basis, tying the company's fate almost entirely to a single volatile asset.

This article is for informational purposes only and does not constitute investment advice.