How Much Bitcoin Does MicroStrategy Own in 2026 ?

Very few companies have become as closely associated with Bitcoin as MicroStrategy, now known as Strategy Inc.

Under the leadership of its co-founder and executive chairman, Michael Saylor, the company transformed from a business intelligence software firm into the largest corporate holder of Bitcoin in the world.

What began as a treasury diversification strategy eventually evolved into a corporate model centered around acquiring and holding Bitcoin at scale.

As a result, investors, analysts, and market participants have continued to monitor every Bitcoin (BTC) purchase announced by the company. Strategy’s holdings have grown so large that its buying activity can influence broader market sentiment, while its stock has increasingly become a proxy for Bitcoin exposure.

The questions many people continue to ask are exactly how much Bitcoin MicroStrategy owns today, how much it plans to hold, and what that means for the company. Let’s look at these topics in detail.

Exactly How Much Bitcoin Does MicroStrategy Own Today?

Strategy currently holds more Bitcoin than any other publicly traded company worldwide. Over the past several years, the firm has consistently added to its position through a series of purchases funded by cash reserves, convertible notes, equity offerings, and other capital-raising initiatives.

The company’s Bitcoin treasury stands at 843,706 BTC as of June 7, representing about 4% of the asset’s maximum supply of 21 million coins. This accumulation strategy has made Strategy one of the most influential institutional participants in the Bitcoin ecosystem.

The scale of these holdings is even more remarkable when compared to other corporate buyers. Many public companies hold Bitcoin as a small treasury allocation. Strategy, by contrast, has made Bitcoin the centerpiece of its corporate strategy.

Because the company reports its holdings through regulatory filings and public announcements, investors receive frequent updates regarding additional purchases. Every acquisition attracts attention because even relatively small additions involve hundreds of millions of dollars.

This aggressive approach has helped establish Michael Saylor as one of Bitcoin’s most vocal advocates. While some executives view Bitcoin as a speculative asset, Saylor has repeatedly described it as a superior long-term store of value and a strategic corporate reserve asset.

MicroStrategy’s Bitcoin Portfolio: Average Cost Basis and Total Investment

Over the past six years, MicroStrategy has accumulated Bitcoin across a wide range of market conditions. Some purchases occurred during bull markets when prices approached all-time highs, while others took place during periods of significant market weakness. This dollar-cost averaging approach has allowed the company to build one of the largest Bitcoin portfolios in history.

Currently, Strategy acquired its 843,706 BTC at an average price of $75,701. This brings the total amount deployed into Bitcoin purchases to $63.87 billion

Notably, the high average price comes despite buying its first BTC in August 2020 when the asset’s price was around $11,400 per coin. The persistent DCA and the fact that it bought most of its BTC holdings in the past two years when prices stood well above $70,000 have ensured that its early advantage has continued to dwindle.

At press time, the portfolio has a valuation of $53.09 billion, down 16% from the firm’s total cost. Strategy is nursing an unrealized loss of $10.78 billion as the coin falls below its average cost of $75,701 to its current price of $63,000.

Meanwhile, the portfolio’s value can fluctuate dramatically as Bitcoin moves higher or lower. During strong rallies, Strategy’s unrealized gains can reach tens of billions of dollars. Also, during corrective phases like the current market condition, the company may experience substantial unrealized losses.

However, Michael Saylor has consistently emphasized a long-term approach for its BTC stash. The company’s strategy has largely centered on continued DCA rather than attempting to time market cycles.

This commitment has distinguished Strategy from many institutional buyers that entered the market during periods of enthusiasm only to reduce exposure during downturns.

Did MicroStrategy Sell Bitcoin? Analyzing the Historical 8-K Filings

Given its large holding, a MicroStrategy Bitcoin sell will not only impact sentiment but also influence price direction. A recent dump, despite its minimal significance compared to the firm’s total stash, confirmed this.

For context, on June 1, Strategy filed an 8-K Form with the US SEC showing it sold some of its holdings. Between May 26 and 31, the firm sold 32 BTC (0.0038% of its holdings) at an average price of $77,135, realizing approximately $2.5 million.

According to the form, this was to fund dividend distribution on the STRC perpetual preferred stock. The news sparked widespread panic in the market, as it deviated from the company’s pledge to never sell its BTC. As a result, the coin dropped 20% in four days from $74,000 to $59,110 before rebounding to its current price.

Notably, the May-end sales were the first time since December 2022. Then, MicroStrategy sold 704 BTC ($11.8 million then) for “tax-loss harvesting” reasons. This meant that it sold the coins to generate a capital loss to compensate its previous corporate capital gains. Two days later, Strategy bought back the coins, purchasing 810 bitcoins.

The takeaway from both sales was that it was not due to a loss of confidence in Bitcoin’s trajectory. They were technical sales that were mainly business oriented. 

There are also risks of future minor sales for such purposes, as the company announced it is shifting from its “never sell” strategy to an actively managed portfolio. Nonetheless, it remains an aggressive Bitcoin accumulator and plans to buy much more than it sells.

The Capital Strategy: How Does Michael Saylor Finance Corporate BTC Purchases?

One of the most fascinating aspects of Strategy’s Bitcoin accumulation is how the company finances its purchases. Rather than relying solely on operating cash flow, Strategy has developed a sophisticated capital-raising framework designed to support additional Bitcoin acquisitions.

The company has frequently issued convertible notes, allowing it to raise substantial amounts of capital from institutional investors. It has also utilized equity offerings and other financing mechanisms to generate funds for Bitcoin purchases.

The most recent invention is the STRC (Stretch) preferred stock. Strategy sells the financial instrument to institutional investors seeking steady monthly revenue, currently offering them 11.5% ROI annually.

Strategy uses a demand and supply mechanism to keep the asset steadily at $100 and uses proceeds from the product to buy Bitcoin. Interestingly, the STRC has increased the firm’s overall Bitcoin purchasing power so far.

Strategy’s model has inspired several other companies to explore Bitcoin treasury strategies, though none have approached the scale of accumulation achieved by Michael Saylor’s firm.

Recently, Tom Lee’s Bitmine Immersion took a page from the strategy, offering a 9.5% annual dividend for 3 million preferred stocks of the company at $100 each. The Ethereum treasury company will use the $300 million proceeds to buy more ETH.

Corporate Bitcoin Leaderboard: How Strategy Inc. Compares to Other Companies

Following Strategy’s success, several public companies now hold Bitcoin. Currently, 270 corporate firms have the premier crypto asset on their balance sheet, holding a combined 1.54 million BTC. 

Still, Strategy remains in a category of its own. For context, the firm’s holdings exceed those of all public companies combined. The closest public Bitcoin treasury company to MicroStrategy is Twenty One Capital, with 43,514 BTC. Saylor’s firm has over 19x more Bitcoin than the company.

Strategy Inc. also outholds the entire list of private companies holding Bitcoin. Led by Block.one, these firms possess a combined 300,463 BTC, which is 543,243 BTC below MicroStrategy’s. The closest singular company that comes close to the Saylor-chaired firm is BlackRock. Its ETF product, the iShares Bitcoin Trust (IBIT), holds 811,291 BTC, which is 32,415 BTC less than Strategy’s.

The difference in holdings highlights MicroStrategy’s unique approach. For many corporations, Bitcoin represents one component of a broader treasury strategy. For Strategy, however, the asset has become the defining feature of the company’s identity in financial markets.

This dominance has turned Strategy into a benchmark for institutional Bitcoin adoption. As institutional interest continues evolving, Strategy’s position at the top of the corporate Bitcoin leaderboard remains largely uncontested.

The Risks of MSTR Stock Operating as a Leveraged Bitcoin Proxy

Although many investors view MSTR stock as a convenient way to gain Bitcoin exposure, the relationship is not without risks.

The stock often amplifies Bitcoin’s price movements in both directions. When Bitcoin rallies, MSTR frequently outperforms because investors anticipate higher portfolio values and additional accumulation opportunities. When Bitcoin declines, the stock can experience sharper losses than the underlying asset itself.

For context, BTC is down 21% in the past month. Meanwhile, MSTR has dropped 35% within the same timeframe. BTC is also down 40% in the past year, compared to MSTR’s almost 70% drawdown. This dynamic has led many analysts to describe MSTR as a leveraged Bitcoin proxy.

Strategy’s use of debt and capital market financing further adds to the risks. While these tools have helped fund additional Bitcoin purchases, they also introduce financial obligations and more price volatility that traditional Bitcoin holders do not face.

For investors seeking direct Bitcoin exposure, this difference is important. Owning MSTR stock means gaining beta exposure to both Bitcoin and the risks associated with a publicly traded corporation pursuing an aggressive accumulation strategy.

Conclusion

Strategy’s Bitcoin model has transformed the company into one of the most closely watched names in global financial markets. With holdings exceeding 840,000 Bitcoin, the firm controls a meaningful share of the asset’s total supply and continues to influence institutional discussions around digital asset adoption.

The company’s success ultimately remains tied to Bitcoin’s long-term trajectory. If Bitcoin continues gaining acceptance as a global reserve asset, Strategy’s position could strengthen further. If market conditions deteriorate, the company’s concentrated exposure may face greater scrutiny.

Either way, Strategy has already secured a unique place in financial history. No other public company has committed so heavily to Bitcoin, and no corporate treasury strategy has attracted as much attention from investors worldwide.

Still, Strategy does not plan to stop soon. Saylor noted that they will keep “buying the top forever,” also pledging to buy the remaining Bitcoin that miners will produce from now until 2140.