Thomas Daniels
Strategy, co‑founded by Michael Saylor, has generated a 52% return on its Bitcoin holdings—translating to an unrealized $21.8 billion gain. Saylor recently announced the company’s 11th consecutive week of Bitcoin accumulation, a streak that began on April 14.
“In 21 years, you’ll wish you’d bought more,” Saylor told his 4.4 million followers on X, where he has added roughly 1 million followers in the past year.
On June 23, Strategy purchased 245 BTC for $26 million, boosting its total holdings to 592,345 BTC—now valued at an estimated $63.6 billion. This positions Strategy as the world’s largest known corporate Bitcoin custodian, holding more than twice the BTC of the next 20 public treasury companies combined, per BitcoinTreasuries data.
Market observers are evaluating whether Strategy’s aggressive accumulation could spark a supply shock, potentially driving Bitcoin prices higher. Simultaneously, concerns persist about the sustainability of the corporate treasury model, particularly among newer entrants that rely on debt and equity financing—a vulnerability that may precipitate the next Bitcoin bear cycle.
A report from venture capital firm Breed asserts that only a handful of Bitcoin treasury firms will endure a market downturn. “When failures inevitably hit, the strongest players are likely to acquire distressed companies and consolidate the industry,” the report states. Breed further emphasizes that established players like Strategy, with its substantial BTC reserves and bear‑market resilience, are best positioned to survive.
Indeed, Strategy continued to accumulate Bitcoin steadfastly during the previous bear market—a strategy that Breed suggests will define the successful treasury companies of the future.
Market analyst Jeff Walton, an investor in Strategy, forecasts a 91% likelihood that the company will join the S&P 500 index in Q2 2025.
