Strategy’s Latest BTC Buy Brings Holdings to $44.9 Billion
Michael Saylor, co-founder and executive chairman of Strategy, has signaled another major Bitcoin (BTC) acquisition as the company’s influence in both crypto and traditional financial markets continues to grow.
In an April 20 post on X, Saylor revealed that over 13,000 institutions and 814,000 retail investors now hold MSTR shares directly, with another 55 million beneficiaries indirectly exposed via ETFs, mutual funds, pension funds, and insurance portfolios.
The update followed Strategy’s most recent BTC purchase on April 14, when the firm acquired 3,459 BTC for more than $285 million, pushing its total holdings to 531,644 BTC—valued at $44.9 billion at current market prices.
“Based on public data as of Q1 2025, over 13,000 institutions and 814,000 retail accounts hold MSTR directly,” Saylor wrote.
“An estimated 55 million beneficiaries have indirect exposure.”
Based on public data as of Q1 2025, over 13,000 institutions and 814,000 retail accounts hold $MSTR directly. An estimated 55 million beneficiaries have indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios.
— Michael Saylor (@saylor) April 20, 2025
Strategy’s Stock-to-Bitcoin Pipeline Continues to Expand
Strategy’s model remains unique: the company raises capital by issuing corporate debt and equity, then converts that capital into Bitcoin, offering investors indirect BTC exposure while injecting liquidity into the crypto ecosystem.
This approach has turned Strategy into one of the largest corporate holders of Bitcoin globally. According to SaylorTracker, the company has seen more than $9 billion in unrealized gains, with its Bitcoin investment now up over 25%.
In December 2024, Strategy was officially included in the Nasdaq 100, positioning it alongside the 100 largest publicly traded companies on the exchange and giving it automatic exposure to index-tracking funds and ETFs. This inclusion has accelerated passive capital inflows into BTC by proxy.
“Strategy has become a capital conduit between traditional finance and Bitcoin,” said one market analyst.
“It’s no longer just a company—it’s a macro investment thesis.”
Institutional Adoption Accelerates Across U.S. States
Bitcoin researcher Julian Fahrer reported in February 2025 that 12 U.S. states—including California, Texas, Florida, and New Jersey—now have institutional exposure to Strategy through state pension systems, insurance portfolios, and ETF holdings.
🇺🇸 Big Strategy update:
12 US states reported public $MSTR holdings in Q1 (pension funds or Treasury) totaling $330m. pic.twitter.com/QYXGMktNTZ
— Julian Fahrer (@Julian__Fahrer) February 16, 2025
This surge in institutional backing complements the rising influence of Bitcoin ETFs, which have brought in approximately $2.4 billion in inflows year-to-date, according to Bloomberg analyst Eric Balchunas.
Balchunas credited both Bitcoin ETFs and companies like Strategy for helping to stabilize BTC’s price by absorbing selling pressure from short-term retail traders.
“Institutional inflows are a critical buffer,” Balchunas said.
“They’re helping to shore up market confidence.”
Final Thoughts: Strategy’s Growing Ecosystem Reach
What began as an unconventional corporate strategy is now reshaping the Bitcoin macro landscape. With 13,000+ institutions, millions of indirect investors, and over $44 billion in BTC, Strategy has become a key pillar in Bitcoin’s ascent toward broader legitimacy.
As Saylor hints at yet another BTC acquisition, the message is clear: Bitcoin is no longer a fringe asset—it’s becoming a systemic one, and companies like Strategy are leading the charge.
