MicroStrategy’s $65B Bitcoin Treasury Is 11th Largest in US
MicroStrategy paused Bitcoin purchases during June 30–July 6, leaving its cryptocurrency holdings unchanged at 597,325 BTC (approx. $65 billion). From April 7 to June 29, the Nasdaq-listed firm added 69,140 BTC for $6.77 billion, and its Bitcoin positions are now up 10.4% in value. Bitcoin is consolidating near $108,000 after failing to break the $110,000 resistance, down 1.5% in 24 hours.
The company’s Bitcoin treasury ranks as the 11th largest among U.S. corporates, rivaling NVIDIA’s $66 billion cash reserve. MSTR stock closed 0.7% lower at $395, tracking Bitcoin’s dip, but remains up 38.5% year-to-date versus Bitcoin’s 16.1% and the S&P 500’s 6.1%.
To fund future Bitcoin investments and working capital, MicroStrategy arranged a $4.2 billion sale of 10% Series A perpetual preferred stock (tickers STRK, STRF, STRD) within a $42 billion capital plan—$23.9 billion issued and $34.1 billion capacity remaining. It targets a 25% Bitcoin yield and $15 billion in gains by 2025; to date, it has achieved a 19.7% yield ($9.6 billion gains) and $14 billion in Q2 unrealized gains.
Bullish
MicroStrategy’s continued accumulation and large Bitcoin treasury, backed by a significant preferred stock fundraising plan, bolster institutional demand and price support. The price consolidation near $108,000 coupled with the company’s 25% yield target and disciplined capital deployment suggests limited downside and sustained upside potential. Over the long term, aggressive corporate Bitcoin adoption and additional capital for purchases are likely to drive bullish market sentiment.