TLDR
Strategy purchased 15,355 BTC for $1.42 billion at an average price of $92,737 per bitcoin
The company now holds 553,555 BTC worth over $52 billion, about 2.6% of bitcoin’s total supply
Acquisitions were funded through sales of MSTR and STRK stock
Strategy stock has outperformed major tech companies, with a 28% increase over the past month
Other companies like Cantor Fitzgerald, SoftBank, Bitfinex and Tether are entering the corporate bitcoin accumulation race
Strategy, formerly known as MicroStrategy, has further cemented its position as the leading corporate holder of Bitcoin with another massive acquisition. Between April 21 and April 27, 2025, the company purchased 15,355 bitcoins for approximately $1.42 billion in cash at an average price of $92,737 per bitcoin.
This latest purchase brings Strategy’s total bitcoin holdings to an eye-popping 553,555 BTC. At current market prices, these holdings are worth over $52 billion, representing about 2.6% of bitcoin’s maximum supply of 21 million coins.
The company has spent around $37.9 billion acquiring its bitcoin stack, including fees and expenses. With bitcoin trading around $95,000, Strategy is sitting on paper gains of approximately $14 billion.
Strategy’s Executive Chairman Michael Saylor hinted at the acquisition before its official announcement. He posted an update on the company’s bitcoin purchase tracker on Sunday with the message: “Stay humble. Stack sats.”
When banks finally bless Bitcoinand the experts agree it’s a good idea,everyone will want to buy it,no one will need to sell it,and you won’t be able to afford it.
— Michael Saylor (@saylor) April 28, 2025
Funding the Bitcoin Treasury
The company funded these purchases through sales of its stock. Strategy sold 4,020,000 shares of its class A common stock (MSTR) for approximately $1.4 billion.
It also sold 435,069 shares of its perpetual strike preferred stock (STRK) for about $37.5 million. After these sales, only $128.7 million worth of MSTR shares remain available under the current program.
The STRK program still has plenty of room for growth. There is $20.92 billion worth of STRK shares remaining available for issuance and sale.
These stock sales are part of Strategy’s broader “21/21 plan.” This plan targets a total capital raise of $42 billion through equity offerings and fixed-income securities for bitcoin acquisitions.
The recent purchase follows another acquisition just a week earlier. Between April 14 and April 20, Strategy bought 6,556 BTC for approximately $555 million at an average price of $84,785 per bitcoin.
Strategy’s stock has performed well despite market volatility. MSTR closed up 5.2% on Friday at $368.71, amid a rebound for both traditional and crypto markets.
The stock has gained nearly 23% year-to-date. Its market cap now stands at $98.1 billion.
What makes this performance more impressive is how it compares to tech giants. While MSTR delivered a 6% return over the past three months, companies like NVIDIA (-6%), Microsoft (-10%), and Google (-15%) all saw negative returns.
The current stock price of $369.25 represents an increase of $80.98, or 28.09%, over the past month. This surge reflects positive market reaction to both bitcoin’s price movement and Strategy’s aggressive accumulation strategy.
Bitcoin itself has shown solid performance recently. The cryptocurrency is trading around $94,725, with a 0.89% increase over the past 24 hours and a 7.44% gain over the last week.
Corporate Bitcoin Race Heats Up
Strategy is no longer alone in its bitcoin accumulation strategy. A growing number of companies are adopting similar approaches to bitcoin acquisition.
Last week, Cantor Fitzgerald, SoftBank, Bitfinex, and Tether announced plans to launch a $3.6 billion bitcoin venture. These companies join others like Semler Scientific, KULR, and Metaplanet in following the bitcoin acquisition model pioneered by Strategy and Saylor.
A new “Bitcoin-native” public company called Twenty One is also entering the scene. With Strike boss Jack Mallers as CEO, Twenty One aims to launch with over 42,000 BTC.
Analysts at K33 suggest Twenty One is positioning itself as a more agile and capital-efficient vehicle for bitcoin exposure compared to Strategy. According to their analysis, Twenty One offers what it calls a “pure play” on bitcoin with Bitcoin-native operations.
Twenty One has developed two custom metrics to track performance: Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR). These metrics aim to provide transparency about how much BTC each share is worth and how that value grows over time.
The company’s roadmap includes developing Bitcoin-native debt and equity products. It also plans to launch a lending platform and offer education and advisory services for both institutional and retail investors.
Strategy’s latest bitcoin acquisition was officially announced on April 28 in an 8-K filing with the Securities and Exchange Commission.
