MSTR's BTC position swings to a $12B Loss
Since August 2020, the company has accumulated a whopping 847'362 BTC, investing approximately $64,2 billion at an average price of $75,7k per Bitcoin.
Average Bitcoin Price
The development of the average BTC price in the Strategy treasury.
Acquisition Breakdown
MicroStrategy’s CEO, Michael Saylor, has aggressively pursued Bitcoin acquisitions, with a significant portion of purchases occurring in 2025:
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Funds Deployed (%) | 1,8 | 4,1 | 0,4 | 3 | 34,3 | 35,2 | 21,3 |
| ** Funds Deployed** ($ b) | 1,1 | 2,6 | 0,3 | 1,9 | 21,9 | 22,6 | 13,7 |
| BTC Acquired (%) | 8,3 | 6,4 | 1 | 6,7 | 30,4 | 26,7 | 20,6 |
In 2025 alone, MicroStrategy deployed $22,6 billion in Bitcoin. This immense expenditure was made possible by the premium at which MSTR shares traded above the market value of the BTC owned and a few (innovative) debt instruments.
For the first time, Saylor sold 32 BTC between May 26 and 31 for $ 2,5 million, to fund its preferred stock dividend.
Market Value of Holdings
As of today, with Bitcoin trading at $61'466, the market value of MicroStrategy’s holdings has dropped to $52 billion. This reflects an unrealized loss of $12 billion, with the company’s total Bitcoin position being 18,8% in the red.
Microstrategy owns 4,04% of all BTC, or 4,58% of still accessible BTC (What Happens to Lost Bitcoin?
.
Sources:
Michael Saylor on X.com
Microstrategy financials: MicroStrategy investor relations page for 8-K, 10-K and 10-Q reports.
MicroStrategy stock market data: finance.yahoo.com
MSTR shares outstanding: ycharts.com
MSTR insider transactions: openinsider.com
BTC price: coingecko.com
Notes:
- Funds deployed: funds allocated during a certain period in comparison with overall investments in a particular asset
- Nr. BTC acquired: amount Bitcoin acquired during a certain period in comparison with the total amount on the books
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