Strategy, the largest corporate holder of Bitcoin, expanded its digital asset portfolio by $21 billion in the second quarter of 2025, driven largely by BTC’s sharp price increase. According to the Michael Saylor-led firm, Bitcoin surged from $82,445 to $107,752 between April and June, pushing its unrealized gains on its BTC holdings to $14.05 billion. […]
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A new report from CryptoQuant shows that institutional purchases aren't making up for slowing spot demand.
Welcome to Slate Sundays, CryptoSlate’s new weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto. It’s not often that you meet someone with as much integrity as Jameson Lopp. Being in his presence for any length of time, whether […]
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According to recent data, public companies have raced ahead of Bitcoin spot ETF issuers by snapping up more than twice as much BTC in the first half of 2025. Public firms added 245,510 BTC to their balance sheets from January through June, a 375% jump over the 51,653 BTC they bought in the same stretch last year. At the same time, spot ETF issuers purchased 118,424 BTC, leaving them well behind their corporate counterparts. Related Reading: Long-Term Bitcoin Holders Near Pain Point Last Seen In October 2024 Public Firm Purchases Smash ETF Buys According to data from Bitcoin Treasuries, the 245,510 BTC bought by public companies during H1 2025 is more than four times the 118,424 BTC ETF issuers gathered. That ETF component is 56% lower than the 267,878 BTC they purchased in H1 2024, despite the funds experiencing more robust inflows than they experienced towards the end of 2024. The difference indicates increasingly companies are holding Bitcoin directly instead of relying on exchange‑traded products. More Companies Join Bitcoin Rush Data shows 254 entities now hold Bitcoin, and 141 of those are public companies. That marks big growth from the start of the year, when only 67 firms had BTC, and the end of March, when the number hit 79. Those counts translate to a 140% rise in six months and a nearly 80% gain in three months, underlining how many new players have jumped in. Strategy’s Share Of Acquisition Dips Strategy (formerly MicroStrategy) still leads corporate buyers, but its slice of the total has shrunk. In H1 2024, Strategy’s purchase of 37,190 BTC made up 72% of all corporate buys. In the first half of 2025, the Michael Saylor‑led company purchased 135,600 BTC but now accounts for 55% of the total—down from its previous dominance. Firms such as Metaplanet, GameStop and ProCap have stepped into the spotlight, each adding large sums to their Bitcoin holdings. Supply Shock Could Be Coming According to industry commentary, the increase in corporate purchasing in addition to continuing ETF demand could take a bite out of available supply. When the next halving event reduces new Bitcoin issuance, less will flow into the market. Analysts caution that increasing institutional interest and declining supply might produce a significant price response. Related Reading: Ethereum Network Awakens—Massive On-Chain Moves Signal What’s Coming As public firms climb aboard and ETFs keep on buying—though at a reduced rate—the battle for Bitcoin is escalating. Although Strategy’s investments have increased in absolute value, the arrival of new buyers indicates the market is expanding. If that trend continues and reward for miners decreases following the halving, the battle for Bitcoin’s scarce supply could get fiercer. Investors and analysts alike will be paying close attention to how these forces influence the price of Bitcoin in the second half of 2025. Featured image from StormGain, chart from TradingView
Strategy, formerly known as MicroStrategy, is on track to report an impressive $14 billion in unrealized gains from its extensive Bitcoin accumulation strategy. Co-founded by Michael Saylor, the company has successfully transformed itself from a struggling enterprise software provider into a leading leveraged Bitcoin proxy, drawing comparisons to major corporate powerhouses such as Amazon and JPMorgan Chase. Strategy Set To Post Record Profits According to a recent Bloomberg report, Strategy’s anticipated profits stem largely from the rebound in Bitcoin prices and recent changes in accounting practices that allow the firm to value its substantial cryptocurrency holdings at market rates. Analysts project that while Strategy’s software business may only generate approximately $112.8 million in revenue for the second quarter, the surge in Bitcoin prices has significantly bolstered its financial outlook. Related Reading: BitMine Stock Soars 700% After $250 Million Raise For Ethereum Treasury This potential record profit comes after a turbulent period for the company, which faced criticism from notable investors like Jim Chanos. Chanos has publicly derided Saylor’s valuation model, describing it as “financial gibberish,” while Saylor has countered that Chanos fails to grasp the intricacies of his approach. Despite the skepticism, Mark Palmer, an analyst at Benchmark Capital, noted Saylor’s resilience, stating that he has consistently outperformed not only his critics but also the broader market. Since Saylor initiated his Bitcoin buying spree, Strategy’s stock has skyrocketed over 3,300%. In the same time frame, Bitcoin has appreciated approximately 1,000%, while the S&P 500 has advanced around 115%. The company’s shares saw a 40% increase in the second quarter, significantly outpacing the S&P’s 11% rise. $64 Billion Bitcoin Value The recent accounting change at Strategy, which took effect in the first quarter, allows the firm to recognize the market value of its Bitcoin holdings—currently valued at about $64 billion—resulting in substantial swings in reported earnings. Previously, the company treated its Bitcoin similar to intangible assets, which limited their ability to recognize gains unless the assets were sold. This change has positioned Strategy to capture the full benefit of Bitcoin’s price fluctuations. Related Reading: Bitcoin Shopping Spree: Strategy Continues Accumulation With $530M Purchase At the start of the second quarter, Strategy held 528,185 BTC, valued at over $43.5 billion based on market prices. An increase in the value of Bitcoin of 30% during the quarter alone contributed more than $13 billion to the company’s unrealized gains. Cumulatively, weekly purchases have brought the company closer to holding 600,000 BTC. Despite the positive outlook, the company has faced legal challenges, including several class-action lawsuits claiming that executives misled shareholders regarding the first-quarter losses. In response, Strategy has pledged to vigorously defend against these accusations. As of press time, BTC trades at $106,100, down 5% from its current record high of $111,800 during May’s rally. Featured image from DALL-E, chart from TradingView.com
MicroStrategy has just added another 4,980 Bitcoin to its stash, spending about $531 million at an average of $106,801 per coin. That brings the company’s total haul to 597,325 BTC. Related Reading: Crypto Bombshell: Developer Claims XRP Could Hit $20,000 At today’s market price, those holdings are worth over $64 billion, compared with the roughly $42.4 billion MicroStrategy (now Strategy) has put in, fees included. According to the June 30 filing with the US Securities and Exchange Commission, Strategy – led by billionaire Michael Saylor – is sitting on nearly $21.6 billion in unrealized gains. Strategic Bitcoin Push Strategy bought its latest batch during the week ending June 29. The firm has already snapped up 88,062 BTC worth nearly $10 billion so far this year. Back in 2024, the company picked up 140,538 BTC at a cost of $13 billion. Company data shows a Bitcoin yield of almost 20% year‑to‑date, with 7.8% gained in the second quarter alone. That edges Strategy closer to its goal of a 25% yield by the end of 2025. Strategy has acquired 4,980 BTC for ~$531.9 million at ~$106,801 per bitcoin and has achieved BTC Yield of 19.7% YTD 2025. As of 6/29/2025, we hodl 597,325 $BTC acquired for ~$42.40 billion at ~$70,982 per bitcoin. $MSTR $STRK $STRF $STRD https://t.co/xvWnSkfukS — Michael Saylor (@saylor) June 30, 2025 Corporate Treasury Trend Strategy now controls almost 3% of all the Bitcoin ever mined out of the 21 million cap. That dominance has inspired 134 publicly traded firms to follow suit, adding Bitcoin to their corporate treasuries. Recent adopters include Twenty One, US President Donald Trump’s media firm Trump Media, and GameStop. In Japan, Metaplanet added 1,005 BTC this week to bring its total to 13,350 BTC. Over in Europe, The Blockchain Group bought 60 BTC, lifting its holdings to 1,788 BTC valued at around €161.3 million. ???? The Blockchain Group has acquired 60 BTC for ~€5.5 million at ~€91,879 per bitcoin and has achieved BTC Yield of 1,270.7% YTD, 69.3% QTD. As of 6/30/2025, $ALTBG holds 1,788 $BTC for ~€161.3 million at ~€90,213 per bitcoin⚡️@_ALTBG Europe’s First Bitcoin Treasury Company… https://t.co/BmcqZzvfoz — Alexandre Laizet ⚡️ (@AlexandreLaizet) June 30, 2025 New Trading Products Arrive Cryptocurrency exchanges are racing to meet all this demand. On June 28, Gemini rolled out a tokenized version of Strategy stock for investors in the EU. That marks the exchange’s first tokenized equity offering in that region. Shares of Strategy have climbed nearly 5% over the past month, trading around $391, according to Google Finance data. Related Reading: Insane Or Insightful? VC Firm Says XRP Could Reach Nearly $9,000 In Just 5 Years Price Resistance Looms Bitcoin itself has been holding near $108,000. It rose as much as 3% over the weekend to hit $108,798. Some traders, like MN Capital founder Michael van de Poppe, expect a brief pullback before BTC tries to breach $109,000. That level sits on the four-hour chart as a clear resistance point. Data from CoinGlass shows nearly $50 million in liquidity stacked at $109,500. If Bitcoin can clear the $110,000–$112,300 zone, it could trigger a short squeeze that pushes prices into fresh record territory. Featured image from Unsplash, chart from TradingView
Strategy (previously MicroStrategy), the leading corporate holder of Bitcoin (BTC), is on the verge of reaching a significant milestone as it approaches the acquisition of 600,000 tokens. In its latest move, the company purchased 4,980 Bitcoin between June 23 and June 29 for an average price of $106,801 each, totaling approximately $531.9 million. This latest purchase has brought the company’s total Bitcoin holdings to 597,325, acquired for around $42.4 billion. Strategy Shares Surge 4.7% Despite Bitcoin’s price remaining relatively stable at around $107,000 and $107,500 over the past 24 hours, Strategy’s shares, MSTR, increased by 4.7% to $402.07 on Monday, reflecting investor confidence in the company’s financial moves. The value of Strategy’s Bitcoin holdings now stands at roughly $64 billion. Related Reading: Wave 3 Ignites As XRP Breaks Structure—Analyst Says ‘Fireworks Ahead’ Funding for these latest acquisitions came through the sale of stock under various at-the-market offerings. Benchmark analyst Mark Palmer noted that the company’s Bitcoin yield, which measures the change in the ratio of its Bitcoin holdings to total shares outstanding, was 19.7% between January 1 and June 29. Strategy’s Chairman, Michael Saylor, who is often regarded as one of Bitcoin’s most vocal advocates, hinted at the recent purchase in a social media post over the weekend. He stated, “In 21 years, you’ll wish you’d bought more,” alongside a chart illustrating the performance of Strategy’s Bitcoin portfolio since its initial investment in late 2020, which shows the aggressive purchases that have increased over the past year. Bitcoin Price Hovers Around $107,000 Interestingly, the company had made a smaller purchase of 245 Bitcoins between June 16 and June 22, considerably less than its usual massive acquisitions. For context, Strategy had previously acquired 10,100 Bitcoins in just six days during the period from June 9 to June 15. This shows that while the company often makes large purchases, it can also vary its acquisition strategy based on market conditions. Over the past month, the market’s leading cryptocurrency has seen a notable volatility spike with prices failing to tackle its current record price of $111,800 reached during last month’s rally. Related Reading: Solana Forms Bullish Flag On Daily Chart — Breakout Imminent? Since, Bitcoin has managed to endure subsequent price drops, with the most recent plunging BTC toward the $98,000 zone. However, the cryptocurrency has managed to record a 2.4% recovery on the weekly time frame, currently consolidating at $107,000. Originally founded as an enterprise software firm, Strategy has transformed into a leveraged play on Bitcoin, allowing investors to gain exposure to cryptocurrency without directly owning it. Since August 2020, the company has consistently increased its Bitcoin reserves by selling stock and debt. This has prompted criticism from analysts who believe this could be dangerous if the Bitcoin price drops below the firm’s average buying price. Featured image from DALL-E, chart from TradingView.com
In a bold and alarming statement, on-chain analyst OxChain raised the possibility of a catastrophic collapse involving Strategy (formerly MicroStrategy), the Bitcoin proxy firm co-founded by Michael Saylor. According to OxChain, this potential downfall could surpass the infamous collapse of FTX. ‘Strategy’s Bitcoin Tactics Resemble Ponzi Scheme’ In a recent post on X (formerly Twitter), OxChain expressed concerns about Strategy’s aggressive Bitcoin accumulation formula, suggesting that the company’s operations resemble a Ponzi scheme. OxChain pointed out that since 2020, MicroStrategy has transformed from a traditional software company into a significant player in the Bitcoin market, currently holding around 582,000 BTC, valued at nearly $61 billion. Related Reading: Researchers Forecast Bitcoin At $4.3 Million By 2036, Citing Institutional Demand However, OxChain claims that this impressive figure is underpinned by leverage, debt, and shareholder dilution, rather than genuine conviction in the cryptocurrency. The analyst outlined Strategy’s approach as a “cyclical financial loop”: the firm raises capital through shares or bonds, purchases Bitcoin, announces these purchases to drive up stock prices, and then raises more funds. The analyst asserts that this cycle has worked as long as Bitcoin’s price continues to rise. However, with plans for a new $1 billion share sale, OxChain believes that Strategy is increasing its risk exposure. Analyst Predicts Major Liquidation Risk OxChain warns that Strategy’s average cost per Bitcoin is approximately $70,000, creating a precarious situation. The analyst adds that if Bitcoin’s price falls significantly below this level, the company’s treasury, currently valued at around $25 billion, could quickly start to suffer losses. According to the analyst, despite Saylor’s public commitment to never sell Bitcoin, the realities of accounting and risk management may force the company to act if market conditions deteriorate. In the first quarter of 2025, Strategy disclosed $5.9 billion in unrealized Bitcoin losses, revealing the volatility of its assets. Under the new accounting standard ASC 350-60, the company is required to report fair value, eliminating the ability to hide behind book value. This transparency has already led to legal repercussions, with shareholders filing a class action lawsuit alleging that Strategy concealed the risks associated with Bitcoin’s volatility while aggressively raising capital. OxChain further claimed during his social media thread that Strategy’s role as a Bitcoin access point is diminishing, especially as institutional capital flows into “more transparent and regulated options,” such as BlackRock’s iShares Bitcoin Trust (IBIT), which has amassed around $70 billion in assets under management. The analyst stressed that unlike Strategy, which reportedly faces dilution risks and operates with limited safeguards, IBIT offers a “more stable investment” for those seeking exposure to Bitcoin. Related Reading: Altcoin Alert: Expert Reveals Hottest Opportunities For The Summer Season If Strategy were to falter, the implications would be far-reaching, OxChain added. The firm holds approximately 2.77% of Bitcoin’s total supply, and a significant liquidation could send shockwaves through the market. The analyst warns that a decline in Bitcoin’s price by just 22% from its average buy price could trigger corporate liquidations, potentially leading to one of the largest liquidation events in history. Ultimately, OxChain cautions that Strategy is neither a hero nor a villain in the crypto ecosystem; instead, he said that it represents a “risk vector heavily reliant on leverage and market sentiment.” Featured image from DALL-E, chart from TradingView.com
High-level talks highlight Pakistan’s ambitions to lead digital asset adoption in the Global South and position Bitcoin as a tool for economic resilience.
Bitcoin’s price outlook remains sky-high after Strategy founder Michael Saylor told Bloomberg on Tuesday that a market freeze won’t come back. He argued that growing demand and limited daily supply point straight to a rally toward $1 million. Related Reading: Relentless Bitcoin Accumulation: Strategy Snaps Up 1,045 More BTC Supply And Demand Pressure According to Saylor, miners release only about 450 BTC each day. That adds up to roughly $50 million at today’s price of around $109,859. He said once that $50 million is snapped up by buyers, there’s no choice but for the price to climb. His view rests on the idea that active demand now matches or exceeds what miners sell. High Price Targets Based on reports, asset manager ARK Invest recently boosted its bull case for Bitcoin from $1.5 million to $2.4 million by the end of 2030. Saylor went even further. He said that as long as Bitcoin doesn’t head to zero, it’s bound for $1 million. His own firm has picked up 582,000 BTC since 2020. That stash is worth nearly $64 billion, according to Saylor Tracker data. Institutional And Political Support Saylor pointed to big names backing Bitcoin. He mentioned US President Donald Trump, US Treasury Secretary Scott Bessent and SEC chair Paul Atkins as signs that the asset has won its toughest battles. He also noted that banks are lining up to offer custody services. And he praised Bitcoin ETFs from BlackRock and others for buying coins daily. Volatility Warning Saylor didn’t shy away from a cautionary note. He suggested that if Bitcoin hits $500,000 or $1 million, a fall to about $200,000 could follow. That’s almost a 60% drop from the peak. His point was that big price swings are part of Bitcoin’s history—and likely its future. Beyond miner sales and whale wallets, analysts say wider market moves matter too. Spot and futures trading often top $10 billion a day, so $50 million of fresh buys might only nudge the price. Regulation could swing the other way if concerns over energy use or consumer protection grow. And rival cryptocurrencies keep popping up with new features. Related Reading: Owning 10,000 XRP? You’re Among Crypto’s Elite, Expert Claims What Comes Next Reports disclose the real test will be whether steady new buyers can outpace both miner supply and selling by holders looking to bank profits. Saylor’s figures make a strong case for continued upside. But investors who build a plan around a $1 million Bitcoin should brace for big dips along the way. In the end, daily demand, political moves and how the rest of the financial world reacts will decide if those eye-popping targets really come to pass. Featured image from Getty Images, chart from TradingView
According to recent filings, MicroStrategy (rebranded to Strategy) added 1,045 Bitcoin to its holdings this week. The move pushed the firm’s average purchase price to $70,086, after buying at levels above $100,000 in recent weeks. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says So far, the Michael Saylor-led company has spent more than $40 billion on Bitcoin and is lining up more financing to keep the buys coming. Weekly Bitcoin Purchases Continue Strategy’s drip-feed gameplan has become routine. The firm bought just under 2,000 BTC over the last two weeks, but split those into smaller chunks. That steady rhythm helps avoid big bumps in the market. It also keeps the firm in the headlines on a weekly basis. Traders watch closely. When the company buys, prices tend to move up. Strategy has acquired 1,045 BTC for ~$110.2 million at ~$105,426 per bitcoin and has achieved BTC Yield of 17.1% YTD 2025. As of 6/8/2025, we hodl 582,000 $BTC acquired for ~$40.79 billion at ~$70,086 per bitcoin. $MSTR $STRK $STRF $STRDhttps://t.co/blyWfRskjE — Strategy (@Strategy) June 9, 2025 Rather than issue new MSTR shares, Strategy tapped its STRK and STRF stocks. The latest filings show $62.7 million in STRK and $43.3 million in STRF went into Bitcoin purchases. No new common shares were registered this round. That keeps Strategy at about 0.02 BTC per MSTR share—10 times more Bitcoin per share than any other name in the sector. Strategy's latest Bitcoin purchase filing with the SEC. Impact On Market Supply Corporate treasuries now hold roughly 3.4 million BTC. That stash includes what miners and governments no longer sell. It leaves less coin on the open market. Over-the-counter desks have seen their inventories drop from 236,000 BTC a month ago to just 123,500 BTC today. Even Coinbase Prime, one of the main outlets for big players, shows only 63,535 BTC available. Corporate Trends And Outlook Strategy’s moves still cast a long shadow. Only 26 other public companies have more than 1,000 BTC, and just seven hold over 10,000 BTC. On-chain data points to nearly 2,000 whale wallets that top those numbers. In the past week alone, five additional firms bought BTC, using their purchases to grab attention on social media. In all, 124 public companies have now listed Bitcoin on their balance sheets or signaled plans to buy. Related Reading: Ignore The Trump–Musk Noise: Bitcoin’s Backbone Stays Solid What It Means For Investors Based on reports, small-scale buys can spur fresh demand without the risk of giant, sudden orders. But average prices above $70,000 come with their own risk. If Bitcoin dips, paper losses mount fast. High interest rates add further pressure. Still, Strategy’s approach fuels a sense of scarcity. Every weekly buy reminds markets that big holders are in no rush to sell. Featured image from Unsplash, chart from TradingView
Michael Saylor, chairman of Strategy and a long-time Bitcoin advocate, has dismissed concerns that quantum computing poses an imminent threat to the top crypto. In a recent CNBC interview, Saylor argued that the narrative is exaggerated to promote speculative quantum-resistant tokens. He noted : “It’s mainly marketing from people that want to sell you the […]
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The company now holds a total of 582,000 tokens purchased at an average price of just over $70,000 each.
The Bitcoin network will eventually do a software upgrade that will nullify the quantum threat to BTC, Strategy's Michael Saylor recently said on CNBC.
Saylor and Bailey are changing Bitcoin’s role in finance, driving corporate adoption and long-term treasury strategies.
“Satoshi started a fire in cyberspace, and while the fearful run from it and fools dance around it, the faithful feed the flame, dreaming of a better world, and bathe in the warm glow of cyberlight,” Saylor said.
Strategy, the Bitcoin (BTC) proxy firm formerly known as MicroStrategy and founded by Bitcoin bull Michael Saylor, has announced a significant new acquisition of the market’s leading cryptocurrency on Monday. Strategy Capitalizes On Significant New BTC Acquisition In a recent filing with the U.S. Securities and Exchange Commission (SEC), the company revealed it purchased an additional 4,020 BTC for $427.1 million, translating to an average price of $106,237 per token. This acquisition comes on the heels of Bitcoin reaching a new record high close to $112,000 last week, driven by renewed inflows into Bitcoin exchange-traded funds (ETFs) and favorable regulatory developments under President Trump’s administration. Related Reading: 2,700% XRP Rise? Analyst Predicts Monster Move Based On The Charts Saylor shared the news on social media platform X (formerly Twitter), noting that the latest purchase brings Strategy’s total Bitcoin holdings to approximately 580,250 BTC, acquired for a total investment of $40.6 billion, at an average price of $69,979 per token. As Strategy continues its aggressive Bitcoin accumulation strategy, the company is also planning to raise additional capital to further enhance its holdings. $7.7 Billion Gain From Bitcoin Investments As reported by NewsBTC last Friday, Strategy announced the launch of a $2.1 billion At-The-Market (ATM) equity program for its preferred stock, Strife (STRF), deemed as a crucial step toward the firm’s long-term goal of establishing a strong Bitcoin-backed financial infrastructure. During an investor update, CEO Phong Lee, alongside Executive Chairman Saylor, highlighted the impressive year-to-date performance of the firm’s Bitcoin-linked securities, Strike (STRK) and Strife, as key factors driving this expansion. Lee emphasized, “We’re currently at a 16.3% BTC yield for the year, against a 25% target,” indicating the firm’s ambitious goals. So far, Strategy has achieved a dollar gain of $7.7 billion from its Bitcoin investments and aims to reach a target of $15 billion. Related Reading: Solana Picture Bigger Than $420: Analyst Predicts 140% Surge To New ATHs The company had previously issued $212 million through Strike’s ATM program without encountering adverse pricing pressure. Given the high trading volume and strong investor demand, Lee expressed optimism that the $2.1 billion Strife ATM could be executed with similar success. In contrast to its other offerings, Strike is designed for “Bitcoin-curious” investors, featuring an 8% coupon and potential upside through Bitcoin conversion. Saylor described it as a “Bitcoin fellowship with a stipend,” appealing to a different risk profile. Currently, Strategy operates three ATM programs: $21 billion each for MicroStrategy (MSTR) equity and Strike, and $2.1 billion for Strife. These programs are rebalanced daily, allowing the company to adjust its issuance based on market conditions, volatility, and investor appetite. At the time of writing, BTC is attempting to consolidate above the key $109,370 mark, which has the potential to become a new support level and allow for new records to be reached in the coming weeks. Year-to-date, the cryptocurrency has gained 56%. Featured image from DALL-E, chart from TradingView.com
Strategy, formerly known as MicroStrategy, is unlikely to adopt on-chain proof-of-reserves (PoR) disclosure for its substantial Bitcoin holdings. At the Bitcoin 2025 conference in Las Vegas, the company chairman, Michael Saylor, dismissed the practice as a potential security threat, saying it exposes firms and users to unnecessary risks. Saylor made the comments while responding to […]
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Publicly traded firms relentlessly buying bitcoin for their balance sheet could result in 'significant buy pressure.'
Michael Saylor’s Bitcoin-first investment strategy has once again taken the spotlight after Strategy (formerly MicroStrategy) laid out an ambitious new plan to scale its BTC holdings. The company now owns over half a million bitcoins, making it one of the biggest institutional players in the crypto market. However, the company isn’t done yet, as recent filings shows an ambitious $84 billion plan to acquire more Bitcoins. Related Reading: Strategy’s $84 Billion Bitcoin Appetite: Michael Saylor Goes All In (Again) As the Bitcoin price hovers around $97,000 in early May, the scale of Strategy’s Bitcoin plan is important, not only for its size but also for the significant role it now plays in the company’s trajectory. Strategy’s 42/42 Plan To Increase Bitcoin Holdings During its latest earnings call, Strategy introduced what it calls the 42/42 Plan, which is a roadmap aimed at raising $84 billion in capital over the next two years. The funding will be split equally between equity and fixed-income instruments, all designated to be used for further Bitcoin acquisitions. This initiative follows a $21 billion at-the-market equity offering that recently brought in over 301,000 BTC in recent months, sending the company’s share price soaring by 50%. As of April 28, 2025, Strategy holds 553,555 BTC, acquired at a total cost of $37.9 billion and an average price of $68,459 per coin. Of this total, 107,155 BTC have been bought in 2025 alone, making it the company’s most aggressive buying year to date despite only four months having passed. The firm’s internal disclosures also note an average cost of $66,384.56 per bitcoin. The latest acquisition round included 15,355 BTC purchased at an average price of $92,737 on April 28 at $1.42 billion. These aggressive purchases have positioned Strategy as the world’s second-largest institutional holder of Bitcoin, just behind BlackRock. Image from Bitbo Interestingly, Strategy’s playbook for building a BTC-heavy balance sheet is not slowing down. Even as the company reported its fifth consecutive quarterly net loss, investor sentiment is still optimistic. The company reported an unrealized $5.9 billion loss in the first quarter of 2025. However, its stock is up by approximately 32% since the beginning of the year and has outperformed the Nasdaq 100 index, which is down nearly 6% over the same period. Related Reading: HBAR To $2? Hedera Rides Real-World Asset Wave Toward Breakout How Strategy Is Doing On Its Current BTC Holdings Strategy’s market value is now deeply influenced by Bitcoin’s price direction. The company’s BTC portfolio has yielded a 13.7% return so far in 2025, generating a paper gain of $5.8 billion. Despite the crypto market volatility, the company updated its BTC yield target from 15% to 25% and a $15 billion profit goal by the end of the year. Image From Strategy.com At the time of writing, Strategy’s Bitcoin strategy continues to pay well, and the company’s stock has been rising in tandem with Bitcoin’s recent rally. MSTR is currently up by 3.35% in the past 24 hours and is currently trading at $394.37. Bitcoin, on the other hand, is trading at $96,500. Featured image from Unsplash, chart from TradingView
Strategy, previously known as MicroStrategy, earned a $5.8 billion profit on its Bitcoin investments in the first quarter of 2025. The company now wants to pour even more money into the cryptocurrency, according to details provided by Executive Chairman Michael Saylor. Related Reading: Bold Call: Bitcoin Could Soar To $210K This Year, Says Research Chief Bitcoin Yield Expands As Company Increases Holdings The business intelligence firm experienced its Bitcoin yield increase by nearly 14% since January. The yield represents both possible income and capital appreciation from Strategy’s investments in Bitcoin. With prices of Bitcoin still on the rise, the firm continues to make strategic buys of the digital currency. According to reports, Strategy has changed its business tactics in the last five years. What began as a business intelligence activity is now most famously associated with enormous Bitcoin holdings. The latest performance of the company indicates this strategy continues to work in 2025. $MSTR announces BTC Yield of 13.7% and BTC $ Gain of $5.8B year-to-date, doubles capital plan to $42B equity and $42B fixed income to purchase bitcoin, and increases BTC Yield target from 15% to 25% and BTC $ Gain target from $10B to $15B for 2025. https://t.co/LgeMEd6Dr5 — Michael Saylor (@saylor) May 1, 2025 Investment Plan Doubles To $84 Billion Strategy said that it will now invest $84 billion in purchasing additional Bitcoin, according to Bloomberg. The company’s move is to invest half the funds ($42 billion) in fixed income and the remaining half ($42 billion) in fixed equity. This significant capital outlay indicates Strategy still has faith in the long-term worth of Bitcoin. The company considers Bitcoin a key component to its business model and a fundamental asset for its treasury holdings. The scale of this investment is a staggering increase on past expenditure. If implemented, it would leave Strategy an even more prominent corporate owner of Bitcoin than it is currently. Performance Targets Leap From 15% To 25% Strategy has increased its Bitcoin performance targets for the next year. The firm has been targeting a 15% return on its Bitcoin holdings but now anticipates 25%. Concurrently, the company raised its target for dollar gains from Bitcoin in 2025. The objective rose from $10 billion to $15 billion, implying Strategy anticipates the price and value of Bitcoin to appreciate considerably during the course of the year. Stock Price Surges More Than 3,000% Since 2020 Strategy’s stock price has risen dramatically since the company initially acquired Bitcoin five years ago. Investors who purchased shares at the time have achieved returns of over 3,000%. Related Reading: Code Wars: Cardano Claims The Crown From Ethereum In Core Development The aggressive and early move by the company to purchase Bitcoin has been responsible for much of this impressive stock performance. As other companies hesitated, Strategy boldly ventured into cryptocurrency. This latest performance report solidifies Strategy’s position as a top corporate Bitcoin holder. It also reinforces confidence among cryptocurrency enthusiasts who view Bitcoin as a worthwhile long-term investment. The company’s ongoing doubling down on Bitcoin is occurring as other mainstream firms have begun venturing into cryptocurrency investments. Yet, few have invested as fully in Bitcoin as Strategy has on Saylor’s watch. Featured image from Unsplash, chart from TradingView
In a explainer video, Joe Burnett, Director of Market Research at the Bitcoin-native financial services firm Unchained, dissects what many retail traders still perceive as a paradox: how Strategy (formerly MicroStrategy) can accumulate “tens of thousands of Bitcoins” without catapulting the spot price into a vertical climb. Burnett’s core argument is that Michael Saylor’s billion-dollar shopping sprees are not the direct injection of fresh demand they appear to be, but rather a sophisticated reallocation of existing exposure within the Bitcoin ecosystem. Why Is Bitcoin Not Skyrocketing? Burnett opens by reminding viewers that Bitcoin’s explosive move “from the $16,000 lows of 2022 to $95,000 today” has historically been accompanied by the awakening of dormant supply. He points to on-chain “hodl wave” data, noting that when price accelerates, “older coins start to move,” a signal that seasoned holders are willing to part with inventory into strength. Those coins, he says, “transfer…to new hands,” a cohort he defines broadly as “Strategy, ETF buyers, institutions, nation-states, and of course, more individuals.” Strategy sits squarely in that cohort, yet Burnett stresses that the software company’s trading style is calibrated to minimize market disturbance. “They use a disciplined, patient strategy, placing thousands or even millions of small buy orders over several days,” he says, quoting Saylor’s own public comments that the firm prefers letting “sellers come to them without bidding against themselves.” The tactic allows long-term, arguably less-price-sensitive holders to exchange coins for cash without triggering runaway order-book imbalances. Related Reading: Bitcoin To Explode To $210,000 This Year, Says Quant Powerhouse Presto The video’s analytical pivot arrives when Burnett introduces what he calls an “additional theory” on why Strategy’s purchases fail to ignite parabolic price action: the funding structure. He unpacks it with a simple but pointed analogy. “If you sell one Bitcoin on Kraken and buy one Bitcoin on Coinbase, what happens to the price? Nothing,” he states. “That’s an economically neutral trade.” According to Burnett, Strategy’s balance-sheet maneuvers replicate that neutrality on a corporate scale. When the firm raises cash by issuing new equity, “someone buys that stock instead of buying Bitcoin,” Burnett explains. Strategy then turns the equity proceeds into spot BTC. “Net effect? A shift in exposure. No net new demand.” The same mechanics, he argues, apply to the company’s convertible-note programs. Hedge funds that subscribe to the notes simultaneously hedge by short-selling MSTR shares, expanding float rather than siphoning dollars from unrelated asset classes. “In both cases… the dollars that flow into Bitcoin are first pulled out of a Bitcoin proxy, MSTR shares,” he says, underscoring the zero-sum nature of the flow. New Demand Is Needed Burnett likens the dynamic to the cash migration that followed the launch of US spot Bitcoin exchange-traded funds in early 2024. Billions poured into products from BlackRock and Fidelity, but “billions also flowed out of GBTC,” he notes, leaving aggregate demand for Bitcoin largely unchanged: “From A to B. Not new demand.” Related Reading: Bitcoin Demand Momentum Yet To Recover From Deep Negative Zone, Analyst Says What, then, would constitute price-moving capital? Burnett’s answer is unequivocal: money that “enters Bitcoin without exiting another Bitcoin proxy.” He cites hypotheticals ranging from Apple’s treasury to sovereign wealth funds, or individuals reallocating real-estate and bond holdings directly into BTC. Against that benchmark, Strategy’s transactions look more like intra-system plumbing than fresh inflows. None of this, Burnett emphasizes, should be read as criticism of Saylor. He calls the Strategy chairman “a world-class Bitcoin educator” whose accumulation strategy is “brilliant.” Yet the market impact, Burnett cautions, “is more nuanced than [it may] appear.” In fact, he suggests that the upcoming Saylor-branded STRF funds—which target fixed-income investors rather than equity buyers—could deliver the genuine outside capital that finally “sends the price of Bitcoin parabolic.” Until such exogenous demand materializes, the Bitcoin market is likely to keep absorbing Strategy’s billion-dollar bids with surprising calm. In Burnett’s words, “Saylor can buy a lot of Bitcoin without moving the price much because he’s buying from long-term wealthy holders and doing so in a way that minimizes short-term price impact.” For traders who expected fireworks each time the software company files a new 8-K, that explanation may prove as sobering as it is illuminating. At press time, BTC traded at $94,971. Featured image created with DALL.E, chart from TradingView.com
TD Cowen says launch of Twenty One could shift institutional sentiment and validate MSTR’s long-term bitcoin strategy.
Strategy, formerly known as MicroStrategy, the now Bitcoin proxy firm founded by Bitcoin (BTC) bull Michael Saylor, made headlines once again on Monday by acquiring an additional 6,556 BTC, bringing its total BTC holdings to an impressive 538,200 BTC. This latest purchase, amounting to approximately $556 million at an average price of $84,785 per Bitcoin, comes amid increasing market volatility, mainly characterized by BTC’s inability to surpass the $90,000 mark since early March of this year. Strategy’s Bitcoin Holdings Surge Since Saylor first championed Bitcoin as a reserve asset in 2020, the cryptocurrency has surged by approximately 987.94% from January 2020 to April 2025. This reflects the increasing acceptance of Bitcoin in the corporate world but also highlights Saylor’s foresight in recognizing its potential as a store of value. Related Reading: Dogecoin Stalls After 42 Days Of Flat Price Action — Is A Breakdown Coming? In a recent post on X (formerly Twitter), Saylor confirmed that Strategy’s latest acquisition of 6,556 BTC was part of a broader strategy to capitalize on Bitcoin’s growth. With a year-to-date BTC yield of 12.1% in 2025, the company’s commitment to Bitcoin is more than just an investment; it represents a strategic shift in how corporations view digital assets. As of April 20, 2025, Strategy holds its BTC at an aggregate purchase price of around $36.47 billion, with each Bitcoin acquired at approximately $67,766. MSTR Stock Soars 163% In A Year Strategy’s stock, MSTR, trading at $317.20, has seen a modest day-over-day increase of 1.78%. With a total market cap of $84.7 billion and an enterprise value of $94.5 billion, the company’s valuation continues to benefit significantly from its Bitcoin strategy. Notably, as Bitcoin prices have risen, the net asset value (NAV) of its Bitcoin holdings has climbed to $47.03 billion, reflecting a daily increase of $1.19 billion or 2.60%. Strategy’s bet on Bitcoin has also proven to be remarkably lucrative. Over the past year, MSTR stock has risen by approximately 163%, driven largely by the appreciating value of Bitcoin. Related Reading: XRP Wyckoff Pattern Maps Bullish Run To $3.70 This Summer The fact that the Bitcoin method has yielded a total return of 2,400% is even more remarkable. This suggests that the first investments of those who saw the potential in Strategy’s Bitcoin strategy might see a return of over 24 times their initial investment. Nevertheless, as reported by NewsBTC, an accounting rule that requires digital assets to be evaluated at market prices would cause Strategy to record an unrealized loss of $5.9 billion for the first quarter of the year. As part of its aggressive acquisition strategy, which has included nine acquisitions during this period, the business allegedly spent $7.79 billion on Bitcoin in the same quarter. At the time of writing, BTC trades at $86,900, registering a 3.3% surge in the weekly time frame. Featured image from DALL-E, chart from TradingView.com
Bitcoin’s rally past $87,000 comes amid reignited aggressive buying from institutional players. On April 21, Japan-based Metaplanet and US firm Strategy (formerly MicroStrategy) both disclosed major Bitcoin acquisitions, adding a combined total of nearly 7,000 BTC to their corporate reserves. This move signals their continued confidence in Bitcoin as a hedge against inflation and monetary […]
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Strategy chairman Michael Saylor, a vocal promoter of Bitcoin, stoked renewed chatter among crypto circles with his recent enigmatic tweet. Thursday’s message stating merely “Bitcoin is Calling” left many asking if a forthcoming significant purchase looms. Related Reading: Is Shiba Inu On Track To Dethrone Dogecoin? Here’s What The Experts Say Strategy’s Shopping Spree On Bitcoin Goes Unabated In The Face Of Market Uncertainty The company recently acquired 3,450 Bitcoin at a price of $285 million. This was done after a short one-week break from their consistent acquisition pattern. Strategy has been steadfast in its aggressive acquisition strategy despite the fact that nearly all of its crypto acquisitions since November 18 have been made at higher-than-current market prices, according to reports. Image: Open Access Government Saylor’s post might be a tease regarding another future purchase, given his history of sending such sarcastic remarks ahead of new acquisitions. The post also appeared to urge his 4.2 million followers to purchase BTC, which he has frequently called “the future of money.” Bitcoin is Calling. pic.twitter.com/0jo19Qbr5q — Michael Saylor (@saylor) April 17, 2025 Bitcoin Bet Pays Off With Massive Stock Gains Strategy’s shares have trounced the performance of America’s largest technology stocks, Saylor’s Wednesday filing showed. The crypto-focused firm has posted an astonishing 130% gain over the last year. These returns more than dwarf the returns of Tesla (57%), NVIDIA (30%), Apple (17%), Meta (4%), and Alphabet (2%). There is a @Strategy to beat the Magnificent 7. pic.twitter.com/TlD57hW0w0 — Michael Saylor (@saylor) April 15, 2025 Some top tech firms actually lost value during the same period. Amazon and Microsoft saw drops of 2% and 7% respectively. These comparisons highlight the significant rewards Strategy has reaped from its heavy crypto investment strategy. Saylor Continues Bold Bitcoin Claims The chairman of Strategy has issued some provocative comments on BTC in recent weeks. Only two weeks ago, he asserted that the price volatility of the top crypto asset actually proves its utility instead of constituting a disadvantage. When someone brought up Bitcoin’s link with risky assets, Saylor contended this is so because Bitcoin is “the most liquid, salable, and accessible asset on the planet.” A day earlier than that remark, he underscored Bitcoin’s singular status among commodities by noting that there are no tariffs on it. His remark highlighted its digital nature and liquidity as central to what makes it functionally decentralized. Saylor has established himself as one of Bitcoin’s most vocal proponents. His tweets tend to center on the fact that there are only 21 million coins in existence, which he recently referred to as “the most important number in finance.” He has also likened Bitcoin to chess, although the meaning behind this comparison wasn’t elaborated in coverage. Image: Blockzeit Related Reading: Could 1,000 XRP Buy You Happiness? This Analyst Thinks So The chairman’s most recent statement comes as Strategy maintains its focus of continuing to buy Bitcoin for the long term, no matter what happens in the short term. With the company’s shares outperforming technology giants and Saylor’s ongoing public support, most crypto observers are now looking to see if another significant purchase of crypto comes after his cryptic “calling” tweet. Featured image from Getty Images/Joe Raedle, chart from TradingView
Michael Saylor’s Bitcoin (BTC) proxy firm, Strategy, has made headlines once again by purchasing an additional $285.8 million worth of Bitcoin (BTC) during a week characterized by significant fluctuations in the company’s stock (MSTR) price. Saylor’s Strategy Reports 11.4% Year-to-Date Bitcoin Yield To finance this latest acquisition, Strategy utilized its at-the-market stock program, selling shares to raise capital for further Bitcoin purchases. This strategic move aligns with the firm’s ongoing commitment to expanding its Bitcoin holdings, which have become a cornerstone of its financial strategy. According to Bloomberg, demand for Strategy’s convertible debt has been partly fueled by hedge funds looking to exploit the company’s stock volatility. These funds are reportedly engaged in trades that involve buying the bonds while simultaneously short-selling the shares, effectively betting on the stock’s price movements. Related Reading: XRP Reaches ABC Pattern Top—Analyst Says $6.50+ Targets Still In Play This most recent Bitcoin purchase, which involved acquiring 3,459 BTC at an average price of around $82,618 between April 7 and April 13, brings Strategy’s total Bitcoin holdings to 531,644 BTC. In a social media update, Saylor revealed that the firm has achieved a year-to-date Bitcoin yield of 11.4% as of April 13, 2025. Strategy now holds a total of $35.92 billion in BTC at an average price of $67,556 per Bitcoin. This impressive figure represents approximately 2.5% of the total 21 million Bitcoin that will ever be issued, solidifying Strategy’s status as the largest corporate holder of Bitcoin. However, the firm’s financial landscape is not without challenges. $42 Billion By 2027 To Fuel Ongoing BTC Purchases Last week, NewsBTC reported that Strategy would register an unrealized loss of $5.9 billion for the first quarter of the year due to an accounting change mandating that digital assets be valued at market prices. In the same quarter, the company reportedly spent $7.79 billion on Bitcoin, reflecting its aggressive purchasing strategy, which has included nine acquisitions during this period. Related Reading: XRP Tests Ascending Triangle Resistance – Can Bulls Reach $2.40 Level? Looking ahead, Strategy has announced plans to raise $42 billion in capital through 2027, utilizing proceeds from both at-the-market stock sales and fixed-income securities to continue funding its Bitcoin purchases. Since Saylor began investing the firm’s cash into Bitcoin as a hedge against inflation in 2020, shares of Strategy have surged approximately 2,300%, highlighting the dramatic impact of its cryptocurrency strategy on shareholder value. As of now, the market’s leading cryptocurrency has successfully regained the crucial $85,000 level, reflecting a 7% increase over the past week. However, despite this recovery, the cryptocurrency is currently trading 21% below its all-time high of $109,000, which was reached in January of this year. Experts attribute some of the market’s recent challenges to President Donald Trump’s tariff policies, which have impacted overall market sentiment. But with the president’s recent 90-day pause on the so-called “tariff war,” the market has regained long-awaited catalysts that could mean further gains. Featured image from DALL-E, chart from TradingView.com
Strategy paused BTC buys as bitcoin tumbled in Q1, but Saylor signaled additional purchases may be coming.
MicroStrategy, the largest corporate holder of Bitcoin, has long embodied the boldest institutional bet on the cryptocurrency. Co-founder and chairman Michael Saylor’s unwavering belief in Bitcoin has defined the company’s strategy for years. However, that strategy now faces a challenge after a recent SEC filing hinted at the possibility of MicroStrategy being forced to liquidate some of its Bitcoin holdings under financial pressure and the recent Bitcoin price crash. The implications could ripple beyond the company’s balance sheet and affect Bitcoin’s broader market. Mounting Debt, Negative Cash Flow, And The Bitcoin Lifeline MicroStrategy disclosed several important financial vulnerabilities in a recent Form 8-K filed with the SEC. At the time of filing, the firm reported holding 528,185 BTC, acquired at an average purchase price of $67,458 per Bitcoin, for a total cost basis of approximately $35.63 billion. However, despite the massive size of its Bitcoin treasury, MicroStrategy admitted that its core enterprise software business has not been generating positive operational cash flow. The company is also shouldering $8.22 billion in debt and facing an annual contractual interest burden of $35.1 million. Related Reading: Crypto Analyst Warns Bitcoin Price Could See Further Crash If It Falls Below This Level Although it has issued over $1.6 billion in preferred stock tied to substantial annual dividend obligations of $146.2 million, these liabilities are not being met. Instead, MicroStrategy explicitly outlined that it expects to rely on debt or equity financing to meet its obligations, and those efforts may become severely strained if Bitcoin’s price sharply declines. The report warns that if the market value of its holdings drops significantly, it could negatively affect the firm’s ability to raise funds. In such a situation, the company might be forced to sell Bitcoin at a loss. At the time the report was filed, BTC was trading just 13% above the company’s average purchase price. Because Bitcoin forms the majority of MicroStrategy’s assets, its balance sheet is intimately tied to the crypto’s price. As such, a dip below that level could create a chain reaction of falling stock prices and ultimately force selling pressure even on the price of Bitcoin itself. Michael Saylor’s Response: Staying The Course Michael Saylor, MicroStrategy’s co-founder and former CEO, is one of the biggest proponents of Bitcoin and was influential in the company’s adoption of a Bitcoin strategy. Taking to social media platform X after the news of the report broke out, Saylor simply tweeted: “HODL,” a popular mantra among crypto purists that signals long-term conviction. Related Reading: Here’s How Much Bitcoin Creator Satoshi Nakamoto Lost After The BTC Price Crash The post has had over 1.4 million views on the platform and resonated with many bullish proponents, as seen in the comments section. He followed that with another tweet: “Bitcoin is the Best Idea. There is no Second Best.” At the time of writing, BTC is trading at $81,900, up by 6% in the past 24 hours. Even if MicroStrategy were to sell any Bitcoin at this point, it wouldn’t be the first sale of its holdings. Back on December 22, 2022, MicroStrategy sold 704 BTC for $11.8 million under similar circumstances. Featured image from Unsplash, chart from Tradingview.com
Bitcoin-heavyweight Strategy, formerly known as MicroStrategy, has moved over 8,000 BTC (more than $700 million) to four newly identified wallets, according to data from blockchain analytics platform Arkham Intelligence. On-chain data from Arkham Intelligence shows the transfers occurred across four transactions between April 2 and April 5. The first transfer moved 1,063 BTC (worth approximately […]
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