Michael Saylor’s Strategy is up over 52% on its Bitcoin investment, representing an unrealized capital gain of over $21.8 billion.
Strategy co-founder Michael Saylor signaled the company’s 11th consecutive week of Bitcoin (BTC) purchases, a streak that began on April 14.
“In 21 years, you’ll wish you’d bought more,” Saylor wrote to his 4.4 million followers on X. The Strategy co-founder has gained roughly 1 million followers on the social media platform over the last year.
The company’s most recent Bitcoin acquisition occurred on June 23, when Strategy purchased 245 BTC for $26 million, bringing its total holdings to 592,345 BTC, valued at over $63.6 billion.
Strategy’s Bitcoin treasury makes it the largest known corporate BTC holder in the world. Saylor’s firm holds more than double the amount of BTC as the top 20 competing public Bitcoin treasury companies combined, according to BitcoinTreasuries.
Analysts continue to debate whether the company’s rapid accumulation of Bitcoin will trigger a supply shock, driving BTC prices higher.
Other market participants have raised concerns about the sustainability of the corporate Bitcoin treasury model employed by Strategy copycat companies that finance BTC acquisitions with debt and equity — a problem that could be the source of the next Bitcoin bear market.
Related: Saylor hints next Bitcoin buy as investor sues over Strategy’s Q1 loss
Strategy unlikely to fold under the pressure, but newer treasury companies will
Only a handful of Bitcoin treasury companies will survive once the price of Bitcoin drops, according to a recent report from venture capital firm Breed.
“When failures inevitably hit, the strongest players are likely to acquire distressed companies and consolidate the industry,” the authors of the report wrote.
“New treasury companies face this risk even more acutely, as they will have to raise capital on tougher terms and at higher leverage ratios than Strategy,” according to Breed.
The report noted that Strategy has a significantly higher chance of surviving the next major market downturn due to its size, BTC holdings, and because it has weathered a previous bear market.
Strategy maintained discipline and continued accumulating Bitcoin even through the bear market, which will be the hallmark behavior of other successful BTC treasury companies, the authors added.
Strategy investor and market analyst Jeff Walton recently predicted that the company has a 91% chance of joining the S&P 500, a stock index of the 500 largest companies listed on the US stock market, in Q2 2025.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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