Strategy bitcoin holdings
The largest corporate bitcoin holder by a wide margin, and the company that wrote the playbook every other treasury company copied.
Key figures
- Bitcoin held
- 840,447 BTC
- As of
- 2026-08-09
- Rank
- 1 of 165
- Value at current price
- $53.1B
- Share of 21 million
- 4.00%
- Average cost
- $76,029 per BTC
- First purchase
- 2020-08-11
Holdings over time
Cumulative bitcoin held after each disclosed event. The line steps rather than slopes because treasury positions change on purchase dates, not continuously.
We do not yet have enough dated market cap points for Strategy to chart its valuation history. Rather than interpolate, we leave it out until the figures are filled in.
Every disclosure we have
| Date | Event | Change | Total held | Note | Source |
|---|---|---|---|---|---|
| 2026-08-09 | Sold | -1,690 | 840,447 | Fourth disclosed sale of 2026. Sold 1,690 BTC for $108.6 million to buy back 1.15 million STRC shares, lifting the USD reserve to $4.65 billion.$63.4B | coindesk.com |
| 2026-08-02 | Sold | -1,638 | 842,137 | Sold 1,638 BTC for $104.7 million at an average $63,957, below the $75,419 average cost. Proceeds funded an $81.2 million STRC repurchase.$63.5B | theblock.co |
| 2026-07-05 | Sold | -3,588 | 843,775 | Largest sale to date, 3,588 BTC for $216 million over June 29 to July 5, under the BTC Monetization Program authorized June 29. | theblock.co |
| 2026-06-21 | Bought | +2,107 | 847,363 | All time peak holdings, reached in two weekly buys after June 8: about 1,587 BTC to June 14, then 520 BTC for $35 million to June 21, the last buy before monetization.$64.1B | coindesk.com |
| 2026-06-08 | Bought | +1,550 | 845,256 | Resumed buying with 1,550 BTC for $101.3 million while lifting the USD reserve to $1.0 billion. | strategy.com |
| 2026-05-31 | Sold | -32 | 843,706 | First bitcoin sale since December 2022. Just 32 BTC for about $2.5 million, sold to fund preferred stock dividends. | coindesk.com |
| 2026-05-17 | Bought | +25,404 | 843,738 | Includes a 24,869 BTC purchase for $2.01 billion, the largest single week buy of 2026, funded by at the market common stock sales. | strategy.com |
| 2026-05-03 | Reported | +104,832 | 818,334 | Disclosed with Q1 2026 results. Holdings up 22 percent year to date despite a $12.54 billion quarterly net loss on unrealized markdowns. | strategy.com |
| 2026-02-01 | Reported | +41,005 | 713,502 | Disclosed with Q4 2025 results, which showed a $12.4 billion quarterly loss as bitcoin fell from about $120,000 to $89,000. Holdings rose by roughly 41,000 BTC during January 2026.$54.3B | strategy.com |
| 2025-12-28 | Bought | +32,466 | 672,497 | Year end 2025 position. The final purchase of the year was 1,229 BTC for $108.8 million. Full year 2025 BTC Yield was 23.2 percent.$50.4B | strategy.com |
| 2025-09-30 | Reported | +42,706 | 640,031 | Quarter end total per the Q3 2025 10-Q, average cost $73,983 per bitcoin.$47.4B | sec.gov |
| 2025-06-30 | Reported | +69,140 | 597,325 | Quarter end total per the Q2 2025 10-Q, filed alongside record net income of $10.0 billion on fair value accounting. | sec.gov |
| 2025-03-31 | Reported | +81,785 | 528,185 | First quarter end reported under the Strategy name, average cost $67,458 per bitcoin.$35.6B | sec.gov |
| 2024-12-29 | Bought | +194,180 | 446,400 | Close of the 21/21 Plan buying spree. The last tranche was 2,138 BTC. Holdings roughly doubled during Q4 2024 alone, at an average cost of $62,428 per bitcoin.$27.9B | strategy.com |
| 2024-09-30 | Reported | +37,942 | 252,220 | Quarter end total per the Q3 2024 10-Q. No bitcoin was sold in the first nine months of 2024. | sec.gov |
| 2024-03-31 | Reported | +25,128 | 214,278 | Quarter end total per the Q1 2024 10-Q. 38,557 BTC held directly and 175,721 BTC held by subsidiary MacroStrategy. | sec.gov |
| 2023-12-26 | Bought | +36,817 | 189,150 | Final 2023 purchase of 14,620 BTC for $615.7 million, made weeks before the first US spot bitcoin ETFs were approved. | strategy.com |
| 2023-06-27 | Bought | +19,833 | 152,333 | Added 12,333 BTC between April 29 and June 27, the largest quarterly increase since Q2 2021. | strategy.com |
| 2022-12-27 | Reported | +8,109 | 132,500 | Year end 2022 position, a net gain of 2,500 BTC since October 31. A 704 BTC sale on December 22 harvested a capital loss for carryback, the only disposal before 2026.$4B | sec.gov |
| 2021-12-29 | Bought | +19,306 | 124,391 | Year end 2021 position. The final tranche was 1,914 BTC for $94.2 million, funded by at the market share sales.$3.8B | strategy.com |
| 2021-06-21 | Bought | +14,554 | 105,085 | Crossed 105,000 BTC. Subsidiary MacroStrategy held about 92,079 of the coins, ring fencing them from debt collateral.$2.7B | strategy.com |
| 2021-02-24 | Bought | +20,061 | 90,531 | Holdings reached 90,531 BTC after a 19,452 BTC purchase for $1.026 billion. Average cost across the whole stack was $23,985.$2.2B | strategy.com |
| 2020-12-21 | Bought | +32,220 | 70,470 | Holdings reached 70,470 BTC. The December 21 tranche alone was 29,646 BTC for $650 million, funded by convertible notes, and 2020 purchases passed $1 billion.$1.1B | strategy.com |
| 2020-09-14 | Bought | +16,796 | 38,250 | Second tranche of 16,796 BTC for $175 million, taking the aggregate purchase price to $425 million.$425M | theblock.co |
| 2020-08-11 | Bought | 21,454 | First corporate bitcoin buy. MicroStrategy adopts bitcoin as its primary treasury reserve asset, purchasing 21,454 BTC for about $250 million.$250M | businesswire.com |
About Strategy
Strategy, the enterprise software company known as MicroStrategy until 2025, put its first 21,454 bitcoin on the balance sheet in August 2020 and never stopped. Michael Saylor's argument was that cash was a melting ice cube and bitcoin was a better place to hold reserves, and the company has since raised tens of billions through convertible notes, at-the-market share sales and a series of preferred instruments to keep buying.
That structure is what makes the stock a leveraged proxy rather than a bitcoin holding. Shareholders are exposed to the coins, the debt raised against them, the dilution from constant issuance, and whatever premium the market is willing to pay over net asset value. That premium has compressed sharply, from roughly 2.5 times the value of the coins in December 2024 to around 1.16 times by spring 2026.
2026 broke the one rule the company had always kept. After peaking at 847,363 bitcoin on June 21, Strategy began selling for the first time since a small tax-loss disposal in 2022, using the proceeds to buy back its STRC preferred stock and build a dollar reserve. The stack is still larger than every other public company combined, but the direction of travel changed.
Frequently asked questions
Why did Strategy start selling bitcoin in 2026?
The company has fixed cash obligations, principally dividends on its preferred stock, that do not pause when the bitcoin price falls. After the 2026 drawdown it began selling small tranches to fund preferred buybacks and hold a dollar reserve, ending a policy of never selling that had held since 2020.
Is Strategy still a software company?
It still sells business intelligence software, but the software business is small relative to the treasury. Analysts and index providers now generally treat it as a bitcoin holding vehicle with an operating subsidiary attached, which is also how its share price behaves.
Compared with its neighbours
Sources
Holdings figures and their dates come from the disclosures linked in the history table above. Read the full methodology.