In a decisive shift from its previous identity as a software company, Strategy, previously known as MicroStrategy, continues to solidify its role as a leading corporate Bitcoin holder. As of July 26, 2025, the company possesses approximately 607,770 Bitcoins, worth over $71 billion, dominating around 66% of the total Bitcoin held by publicly traded U.S. corporations.
Strategy’s recent activities confirms its intention to continue accumulating Bitcoin, reinforced by its latest issuance of preferred shares, known as Stretch (STRC), designed to fund further Bitcoin purchases and support existing financial obligations.
Strategy Holdings Cross 607,700 BTC
Strategy maintains its status as the largest corporate Bitcoin holder globally, significantly ahead of other corporations in the United States. Currently holding about 607,770 Bitcoins, Strategy has steadily expanded its portfolio throughout July 2025. Earlier this month, Strategy purchased roughly 6,220 Bitcoins, marking another substantial increase in its holdings.
Between July 7 and July 13, the company acquired an additional 4,225 Bitcoins at an average cost of $111,827 per coin.
On June 30, Strategy announced the purchase of approximately 4,980 Bitcoins at an average price of $106,801 per coin, further boosting its total holdings.
With an average purchase price of $71,268 per Bitcoin across its entire portfolio, Strategy’s total cost to date stands at approximately $42.9 billion. Given the current Bitcoin price, the company’s unrealized gains exceed $21 billion, significantly enhancing its market value relative to its original investment cost.
$2.47 Billion Raised in Stretch (STRC) Preferred Sale
Strategy continues raising capital to fund its Bitcoin investments by issuing various types of stock. Its newest financial instrument, the Stretch Series A Perpetual Preferred Stock (STRC), has been priced at $90 per share with a stated value of $100, aiming for a stable market price close to par.
The initial issuance comprises 28,011,111 shares, generating approximately $2.474 billion. Strategy plans to settle this issuance on July 29, 2025, using the funds primarily to purchase additional Bitcoin. The new shares offer investors monthly dividends, initially yielding about 9-10%, adjustable monthly to maintain the targeted market price around $100 per share.
Stretch Series preferred shares hold seniority compared to Strategy’s previous preferred stock offerings – Strike, Stride, and Strife – providing added protection to investors in case of financial challenges. Strategy retains specific redemption rights and can repurchase these preferred shares under certain circumstances, enhancing investor confidence.
Read also: What If MicroStrategy Sold All Their Bitcoins?
Strategy Surges 40% – But Can Bitcoin Keep It Afloat?
Strategy’s stock performance has been positive throughout 2025, with shares up around 40%, outperforming broader market indices such as the S&P 500. This robust market performance reflects investor optimism regarding Strategy’s heavy exposure to Bitcoin, effectively allowing shareholders to invest indirectly in the cryptocurrency market through equity ownership.
However, concerns remain, as some financial experts question the sustainability of the company’s current valuation. Notably, prominent investor Jim Chanos suggests Strategy’s valuation, nearly double its net asset value, might not hold if the market’s enthusiasm for Bitcoin declines.
Contrastingly, analyst Pierre Rochard argues in favor of Strategy’s approach, highlighting the company’s advantage as one of the earliest and largest corporate holders of Bitcoin. According to Rochard, Strategy effectively functions as a leveraged bet on Bitcoin, offering substantial upside potential if cryptocurrency prices remain strong or grow further.
Read also: Will Strategy Have to Sell Part of Its Bitcoin Stack?
