Strategy's Bitcoin Bonanza: A 24x Return for Early Believers

Strategy, formerly known as MicroStrategy, has been aggressively accumulating Bitcoin as a long-term treasury holding, buying 6,556 BTC at approximately $555.8 million between April 14 and April 20, 2025. These purchases, financed through equity issuances, increased their holdings of Bitcoin to approximately 538,200 BTC, bought at an average price of $67,766 per unit. Despite the scale of such buying, Strategy's buying activity accounts for a relatively modest percentage (3.3% on average) of the weekly aggregate Bitcoin trade volume, and little lasting impact on Bitcoin's market price is estimated by analysts.

The company's investment rationale is concentrated on long-term shareholder value creation rather than attempted short-term market timing or price manipulation. Since early 2023, Strategy's Bitcoin holding has appreciated by 306%, while its fully diluted share count has appreciated by 94%, reflecting prudent management of capital. This approach has significantly benefited shareholders with the Bitcoin-denominated net asset value (NAV) being approximately $47 billion and the company's share price appreciating by approximately 163% over the past year through the appreciation in the value of Bitcoin.

Strategy's Bitcoin accumulation also reflects growing institutional and retail investor interest, with over 13 institutional investors holding MSTR shares outright, and millions of retail and indirect investors gaining exposure via mutual funds, pensions, and ETFs. The company's total return valuation related to its Bitcoin strategy has risen by approximately 2,400%, showing that early investors in Strategy's Bitcoin program have seen their investment increase over 24 times. This strategy is focused on having trust in Bitcoin as a reserve asset, keeping the market stability intact and providing high returns to shareholders