BTC Boom Propels Strategy to $63B in Holdings
Michael Saylor, the founder and executive chairman of Strategy (formerly MicroStrategy), is riding high on one of the most aggressive corporate Bitcoin investments to date. His firm now holds a staggering 592,345 BTC, cementing its status as the largest publicly traded Bitcoin holder globally.
With Bitcoin currently priced at approximately $106,824, Strategy’s holdings are valued at over $63.28 billion—up from an average purchase price of $70,702 per coin. This translates to an unrealised profit of $21.3 billion, representing a 51% increase.
Saylor’s commitment to dollar-cost averaging—a strategy of buying Bitcoin regularly regardless of market conditions—is proving to be highly effective. He has consistently described Bitcoin as a superior store of value compared to cash and has encouraged other corporations to adopt similar treasury strategies.
Shares of Strategy ($MSTR) are trading at $393.24, with a market cap exceeding $107 billion. The stock currently trades at a 1.67x premium over the company’s net asset value, signalling strong market support for Saylor’s Bitcoin-centric approach.
Though the company’s performance has attracted widespread praise, it hasn’t escaped criticism. Renowned investors Jim Chanos and Cliff Asness have questioned the sustainability of Saylor’s approach, particularly his claim that the firm’s debt is low-risk, even in a market downturn.
Chanos pointed out that the debt would still need to be serviced if Bitcoin tumbles, while Asness argued that issuing stock to repay it may not be viable if both crypto and equity values drop simultaneously.
Despite the detractors, the results so far have made Saylor’s bold strategy one of the most talked-about moves in corporate finance—and a defining case study in long-term crypto investment.
