Strategy’s BTC Holdings Surpass 500K

• Strategy’s BTC holding crossed 500K and hit 2.4% of the total supply.
• The firm had $15B left for debt issuance and overall $39B capital to be raised per its 21/21 plan.

Strategy (formerly MicroStrategy) became the first public company to surpass 500K Bitcoin (BTC) holdings following its latest purchase.

On March 24, Michael Saylor, founder of Strategy, announced that the firm acquired an additional 6,911 BTC valued at $584 million.

The total holdings increased to 506,137 BTC, worth $43.9 billion, representing 2.4% of the total BTC supply (21 million coins).

To emphasize this achievement, 492,750 BTC are projected to be mined between now and March 25, 2028, just prior to the next halving. In essence, Strategy holds more BTC than what will be mined in the next three years.

MSTR as a Bitcoin Beta

Since its aggressive approach to BTC in 2020, Strategy’s shares (MSTR) have seen significant growth.

MSTR has gained 2,115% in the past five years while BTC has increased by 638%, outperforming BTC by 3.3 times.

In terms of month-to-date performance, MSTR is up nearly 25%, whereas BTC has bounced about 1%. This trend continues on a year-to-date basis with MSTR rising 12% in 2025, while BTC has declined 8%, further solidifying MSTR as a premier BTC proxy.

The latest BTC purchase was funded by a recent stock sale, according to SEC filings.

> “The bitcoin purchases (6,911 BTC) were made using proceeds from the Common ATM and the STRK ATM.”

In summary, the recent preferred stock sale (STRF) has yet to be used, and BTC analyst James Van Straten suggests the firm may acquire an additional 7K BTC soon.

This acquisition aligns with the firm’s 21/21 plan aiming to raise $42 billion through stock issuance and debt financing for BTC purchases.

Analyst Ragnar noted there remains $15 billion for debt issuance under the plan and an overall $39 billion yet to be raised.

On the price chart, MSTR fluctuated between the 200 DMA (Daily Moving Average) and the 100 DMA.

The 41% rally over the last two weeks reached the upper boundary of the 100 DMA (orange). Whether a breakout will occur is still uncertain.