Strategy (formerly MicroStrategy), led by Michael Saylor, has further cemented its position as a major Bitcoin holder. The company recently acquired an additional 3,081 BTC for approximately $357 million, bringing its total holdings to 632,457 BTC, which is 3% of the total Bitcoin supply. This move aligns with Saylor’s previously stated goal of acquiring between 3% and 7% of the total BTC supply.
The capital for this significant purchase was primarily raised through the sale of 875,301 MSTR common stock shares, a move that has sparked debate. While some critics view this as stock dilution, analysts like Jeff Walton see it as a strategic way for the company to acquire more Bitcoin. Walton also noted that the company’s size and liquidity make it a strong candidate for inclusion in the S&P 500 Index.
However, this strategy isn’t without its risks. The company’s stock, MSTR, is highly sensitive to Bitcoin’s price movements, typically experiencing about twice the volatility. During the recent Bitcoin price pullback, MSTR’s stock dropped nearly 20%, double the 10% decline seen in BTC. The stock is currently trading below its 200-day Simple Moving Average (SMA), a key support level it had maintained throughout 2025. This vulnerability suggests that any further drop in Bitcoin’s price could put MSTR bulls in a precarious position.
August 2025, Cryptoniteuae
