Over five years and more than $57 billion in Bitcoin (BTC) purchases, Strategy has accumulated 761,068 BTC - roughly 3.6% of the fixed 21 million coin supply - becoming the world's largest publicly traded corporate holder of the asset.
The company's average acquisition cost now stands at approximately $75,696 per coin, more than seven times the price it paid in its first purchase in August 2020, when Bitcoin traded below $12,000.
The accumulation began as a treasury diversification decision. Strategy, then known as MicroStrategy, made its first Bitcoin purchase in August 2020, acquiring 21,454 BTC for approximately $250 million.
Co-founder and Executive Chairman Michael Saylor described cash as a depreciating asset and Bitcoin as a more resilient store of value - framing that has since been adopted by dozens of publicly traded companies.
The Largest Single Purchases
Strategy's biggest single acquisition by both volume and dollar value came on November 25, 2024, when it purchased 55,500 BTC for approximately $5.4 billion at an average price of $97,862 per coin.
A week earlier, it bought 51,780 BTC for $4.6 billion at $88,627 - a purchase followed within 24 hours by Bitcoin hitting a then-record high above $94,000.
The third-largest by coin count came in December 2020 - 29,646 BTC for $650 million at roughly $21,925 per coin, when Bitcoin's price was only beginning its bull run.
In November 2024, following Donald Trump's presidential election victory, Strategy added 27,200 BTC for $2.03 billion; Bitcoin rose more than 10% on the day of the announcement to close above $88,600.
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Where It Stands Now
At current prices near $72,400, Strategy's 761,068 BTC is worth approximately $55 billion - below the $57.61 billion cumulative cost of its holdings.
The company has purchased Bitcoin for 12 consecutive weeks in 2026, with its most recent tranche of 22,337 BTC acquired between March 9-15 for $1.57 billion, funded primarily through its STRC perpetual preferred share issuance.
The firm's stock (Nasdaq: MSTR) trades at approximately $140, down roughly 40% from its 2024 peak, broadly tracking Bitcoin's own decline from its October 2025 all-time high.
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