MicroStrategy, formerly known as MicroStrategy, has expanded its Bitcoin holdings again with a purchase of 20,356 BTC for $1.99 billion between February 18 and 23, 2025.
MicroStrategy's Bitcoin Accumulation Strategy
MicroStrategy began accumulating Bitcoin in August 2020, becoming the first publicly traded company to adopt Bitcoin as a primary treasury reserve. Recent significant purchases include 218,887 BTC for $20.5 billion in Q4 2024 and 20,356 BTC in February 2025. The company now holds 499,096 BTC, representing 2.3% of Bitcoin's total supply.
21/21 Plan and Future Purchases
The recent purchase was funded by issuing convertible senior notes totaling $2 billion, as part of their strategic 21/21 Plan. This plan targets raising $42 billion over three years for further Bitcoin acquisition, split between equity and debt securities. Despite reporting a $670 million net loss in Q4 2024, the company remains committed to its long-term accumulation strategy.
Unrealized Gains and Institutional Investment
With nearly 500,000 BTC in holdings, MicroStrategy has unrealized gains of $14.8 billion, according to SaylorTracker. Additionally, 12 U.S. states hold MicroStrategy stock in state pension funds with total investments amounting to $330 million by the end of 2024.
MicroStrategy continues to aggressively expand its Bitcoin holdings while navigating financial challenges and political discourse, maintaining a strategic focus on long-term growth.
