Strategy (Formerly MicroStrategy) Adds 6,220 BTC, Total Holdings Surpass 607,770 BTC

The company recognized as the largest “Bitcoin treasury,” Strategy (formerly MicroStrategy, ticker: MSTR), has further strengthened its position as the world’s largest public holder of Bitcoin. During the week ending July 20, 2025, the company purchased 6,220 BTC worth approximately US $740 million, bringing its total holdings to 607,770 BTC, valued at nearly US $72 billion.

Transaction Details and Funding Sources

The acquisition took place between July 14–20, 2025, at an average price of US $118,940 per BTC, totaling approximately US $739.8 million. Funding for the purchase came from the sale of common stock worth US $736.4 million, along with an additional US $4 million from preferred shares.
An official filing via Form 8-K, submitted on July 21, confirmed the updated holdings.

Scale and Significance

With this position, Strategy now controls approximately 3.05% of the total global Bitcoin supply (around 19.9 million BTC in circulation). This strategy is implemented through weekly purchases backed by at-the-market equity programs and issuance of convertible notes, reflecting the company’s aggressive agenda to continuously accumulate digital assets.

Recent Purchase History

• July 7–13, 2025: Strategy acquired 4,225 BTC worth US $472.5 million (average price: US $111,827 per BTC), bringing its total holdings to 601,550 BTC.

• Late June 2025: An additional 4,980 BTC purchased for US $531.9 million, pushing reserves beyond 597,000 BTC.

Motivation and Business Model

Michael Saylor, Executive Chairman of Strategy, reiterated the company’s commitment to making Bitcoin a primary asset alternative to traditional cash and a hedge against inflation. This approach continues MicroStrategy’s original “digital gold” strategy, now executed with greater leverage and a more complex capital structure.

Market Response and Risk Factors

MSTR shares rose approximately 1.9% in pre-market trading and 2% at the opening session following the announcement. However, several analysts warned about the 70% premium relative to the value of its Bitcoin holdings, which increases the company’s exposure to BTC price fluctuations.

Additionally, this aggressive accumulation introduces significant leverage risks, including potential margin calls or liquidity pressure during periods of heightened market volatility.
If Bitcoin’s bullish trend continues, Strategy’s margins will strengthen, boosting institutional investor interest. However, if Bitcoin prices decline sharply, the company could face asset impairment or the need for additional funding, which may put downward pressure on the stock.

With this latest acquisition, Strategy solidifies its position as the public entity with the largest Bitcoin exposure, holding over 607,000 BTC, equivalent to about 3% of the global supply. This move reaffirms its status as a “leveraged Bitcoin proxy,” combining aggressive accumulation with complex financial instruments. While this strategy provides short-term stock momentum, high premiums and leverage risks remain key concerns.