MicroStrategy expands Bitcoin holdings to 848,000 BTC

MicroStrategy (now referred to as Strategy) has significantly expanded its Bitcoin holdings, reaching a total of approximately 848,000 BTC. This accumulation represents about 4.04% of the total Bitcoin supply. The company’s historical cost for these reserves is roughly $63.95 billion, while their current market value is estimated at approximately $72.20 billion, yielding an unrealized net profit exceeding $8 billion.

Alongside its Bitcoin acquisition strategy, the company has spent $176 million on buybacks of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). This move aims to manage the discount of STRC shares, with market indicators showing an increased probability of the stock reaching $100 by the end of the year.

While Bitcoin’s recent climb toward the $86,000–$87,000 range has driven MicroStrategy’s stock price higher, some analysts have raised questions regarding future funding. Critic Peter Schiff has expressed doubt about the continued effectiveness of using STRC preferred stock as a primary financing vehicle for further Bitcoin purchases, noting that the company has recently relied more on liquid assets and common stock sales.