TL;DR
- Strategy’s market cap jumps to a record $128.5B as its share price surges on the back of its massive Bitcoin holdings.
- The company now holds 601,550 BTC (worth over $72B), including 4,225 BTC bought mid-July at about $111.8K each.
- Michael Saylor’s “digital real estate” pivot drives a 174% YTD rally, though earnings swings and regulatory scrutiny loom.
Strategy has cemented its transformation from analytics software stalwart to crypto powerhouse after its market capitalization surged to a record $128.5 billion. The meteoric rise comes on the back of an audacious Bitcoin buy strategy that now sees the company holding a staggering 601,550 BTC on its balance sheet. As investors cheer each new Bitcoin high, Strategy’s shares (MSTR) have climbed sharply, underlining how digital assets can reshape corporate valuations.
Bitcoin Accumulation Fuels Record Valuation
Since initiating its Bitcoin program in August 2020, Strategy has banked more than 600,000 coins, making it the largest public corporate holder globally. In mid-July alone, the firm added 4,225 BTC at an average price of about $111,800 per coin, spending roughly $472.5 million.
At current Bitcoin prices flirting with $120,000, that hoard translates into over $72 billion of on-chain value, more than half of Strategy’s total market capitalization.
Market Cap Milestone in Dollar and Sterling Terms
On July 16, MSTR stock closed at $455.90, up more than 3% on the day, fueling the $128.5 billion market cap. In British pound sterling, that valuation equates to roughly £101 billion, according to CompaniesMarketCap, placing Strategy alongside some of the largest FTSE-listed technology names. Year-to-date, the share price has jumped over 174%, dwarfing both the S&P 500’s gains and Bitcoin’s own rally.
Saylor’s Corporate Bitcoin Play Validated
Michael Saylor’s pivot from enterprise software to “digital real estate” has been vindicated. By treating Bitcoin as a core treasury asset, Strategy has outperformed peers across multiple metrics, including revenue growth, stock momentum, and headline-grabbing returns. Institutional investors now view the company as a proxy for Bitcoin exposure, and analysts predict this model could inspire similar strategies at other public firms.
Weighing the Rewards and Risks Ahead
Despite blockbuster gains, tying a corporate balance sheet to a volatile asset invites scrutiny. Accounting rules force the firm to reflect quarterly Bitcoin price swings directly in earnings, potentially magnifying earnings volatility. Regulators and shareholders alike will monitor how Strategy balances its legacy software operations with its ever-growing crypto bet.
