MicroStrategy bought 2.6% of circulating bitcoin at $67,458 apiece
According to Michael Saylor’s latest announcement, the world’s largest bitcoin holding company now owns 528,185 BTC. That is more than 2.6% of bitcoin’s circulating supply. Personally, Saylor also owns at least 17,000 additional bitcoin. Combined, therefore, he and the company he founded own over 2.7% of bitcoin’s $1.6 trillion market capitalization. MicroStrategy, doing business as Strategy, is a highly leveraged speculator on bitcoin’s price. Strategy currently owes $8.2 billion in US dollar-denominated debts. In addition, Strategy has dividend obligations to two preferred series of shareholders, STRK and STRF. Read more: Michael Saylor suggests selling kidneys as bitcoin dips below $80K Blessed with an avid fan base of investors who think that the bitcoin-acquiring company is worth more than the bitcoin it has acquired, its MSTR common shares trade at a curious premium to the assets that back those shares. As of publication time, basic MSTR shares are trading at a 73% premium to the company’s bitcoin. Half as much circulating bitcoin as Satoshi Nakamoto By acquiring bitcoin through the addition of convertible debt, issuances of preferred shares, and MSTR at-the-money (‘ATM’) sales, the company captures this premium to achieve a so-called ‘bitcoin yield.’ Year-to-date in 2025, these dilutive practices have resulted in a bitcoin yield metric for MSTR shareholders of 11%. Strategy’s average purchase price for all of its bitcoin holdings is $67,458. It paid an average of $35.6 billion for its holdings that are now worth $44 billion. It has unrealized profits on its trade of $8.4 billion. Incredibly, the company now owns approximately half as much bitcoin as the original creator of bitcoin, Satoshi Nakamoto. Most estimates of Nakamoto’s holding are around 1.1 million. Saylor, who founded MicroStrategy in 1989, has vowed to ‘donate’ his personal wealth back to all bitcoin owners upon his death. Waxing philosophical about his appreciation for acolytes who believed his message during his lifetime, he said he would burn private keys to over 17,000 bitcoin as his giving pledge. Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.