Strategy MSTR Now Officially Owns 4% of the Total Bitcoin Supply

In a landmark moment for corporate Bitcoin adoption, Michael Saylor's Strategy Inc today announced the acquisition of 24,869 BTC worth over $2 billion, pushing the company past a threshold that once seemed reserved for thought experiments and shareholder letters: owning over 4% of all Bitcoin that will ever exist. With Bitcoin's hard cap of 21 million coins, 4% works out to roughly 840,000 BTC, and Strategy has now crossed that line decisively.

The bulk of this week's accumulation was, as widely anticipated, driven by the company's Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). According to today's announcement, approximately 95% of the 24,869 BTC haul, or about 23,626 Bitcoin, was funded with proceeds from STRC at-the-market sales. The remaining 5%, roughly 1,243 BTC, came from common MSTR ATM issuance. At an average purchase price near $80,400 per coin, this marks one of the largest single-week Bitcoin acquisitions on record.

Last week, our STRC accumulation tracker estimated that Strategy would acquire approximately 25,128 BTC through STRC proceeds during the period in question. The actual STRC-funded figure came in at ~23,626 BTC, a deviation of just under 6%, with BitcoinTreasuries.net once again overshooting only slightly, in line with our historical pattern of landing close to the official numbers. As more granular intraday data becomes available, our estimations will continue to tighten.

This week's purchase is, by any measure, a defining one. Before today's filing, Strategy already held the title of the largest public Bitcoin holder, having surpassed BlackRock's iShares Bitcoin Trust last month. With the addition of 24,869 BTC, the company moves firmly past 840,000 Bitcoin and cements a position that no other corporate, sovereign, or institutional entity currently rivals. Four percent of all Bitcoin that will ever exist now sits on a single public company's balance sheet.

The funding split also tells an important story about Strategy's evolving capital stack. STRC, the variable-rate stretch preferred introduced as the centerpiece of Strategy's digital credit strategy, has now established itself as the dominant capital pipeline into the company's Bitcoin treasury. Common stock issuance through MSTR ATM remains active but is increasingly a complementary channel rather than the primary one. The 95/5 ratio between STRC and MSTR proceeds this week underscores how durable institutional demand for the preferred has become, even as STRC trades tightly around par.

The pace of accumulation also keeps Strategy firmly on track toward its one million Bitcoin target this year. At the current trajectory, the company could reach that mark before the end of 2026 and could, in 2027, plausibly surpass even Satoshi Nakamoto's estimated holdings, which would make Strategy not just the largest public Bitcoin holder, but the single largest Bitcoin holder of any kind, anywhere.

For the broader digital credit market, today's announcement is another data point in a thesis that has played out remarkably consistently over the past several quarters: yield-seeking capital, properly packaged into instruments like STRC, can be funneled into Bitcoin at a scale and velocity that traditional financing routes simply cannot match. With semi-monthly STRC dividends, and increasingly competitive offerings from issuers across the digital credit space, the flywheel between yield products and Bitcoin accumulation continues to accelerate.