Michael Saylor’s Bitcoin-centric investment approach is once again in the limelight as Strategy (formerly MicroStrategy), recently revealed an ambitious plan to expand its Bitcoin (BTC) holdings. Currently, the firm holds more than half a million bitcoins, making it one of the leading institutional investors in the crypto industry. Yet, the company’s appetite for Bitcoin is far from satiated, with recent filings revealing an audacious $84 billion scheme to increase Bitcoin holdings.
With Bitcoin prices fluctuating around $97,000 in early May, the magnitude of Strategy’s Bitcoin scheme is significant, not only due to its sheer size but also due to the pivotal role it now plays in the company’s overall business direction.
In its recent earnings call, Strategy introduced its 42/42 Plan, an ambitious roadmap to raise $84 billion in capital over the next two years. This capital is expected to be split equally between equity and fixed-income instruments, all earmarked for additional Bitcoin acquisitions.
This bold initiative follows a $21 billion at-the-market equity offering that recently netted over 301,000 BTC, resulting in a 50% surge in the company’s share price. As of April 28, 2025, Strategy boasts 553,555 BTC, purchased at a total cost of $37.9 billion and an average price of $68,459 per coin.
Of this total, 107,155 BTC were acquired in 2025 alone, marking the company’s most aggressive buying spree to date despite the year being only four months old. The firm’s internal disclosures also indicate an average cost of $66,384.56 per bitcoin.
The latest acquisition involved 15,355 BTC purchased at an average price of $92,737 on April 28, amounting to $1.42 billion. These hefty purchases have cemented Strategy’s position as the world’s second-largest institutional Bitcoin holder, trailing only behind BlackRock.
Despite reporting its fifth consecutive quarterly net loss, Strategy remains undeterred in its pursuit of a Bitcoin-heavy balance sheet. Investor sentiment remains positive as the company reported an unrealized $5.9 billion loss in Q1 2025. However, its stock has risen by approximately 32% since the year began, outperforming the Nasdaq 100 index, which is down nearly 6% over the same period.
The company’s market value is now heavily tied to Bitcoin’s price movement. To date, the company’s BTC portfolio has provided a 13.7% return in 2025, generating a paper gain of $5.8 billion. Despite the inherent volatility of the crypto market, the company has revised its BTC yield target from 15% to 25% and aims for a $15 billion profit by year’s end.
At press time, Strategy’s Bitcoin strategy continues to yield positive results, with the company’s stock rising in tandem with Bitcoin’s recent uptick. MSTR is currently up by 3.35% in the past 24 hours and is trading at $394.37, while Bitcoin is trading at $96,500.
