Strategy sold another 1638 Bitcoin today, although this company remains the largest Bitcoin treasury in the world...
Strategy sold another 1638 Bitcoin today, although this company remains the largest Bitcoin treasury in the world. The company now holds 842,138 Bitcoin**, equivalent to about **4.01% of the total final supply of Bitcoin. The net asset value of these holdings (BTC NAV) is estimated at about $53.35 billion, while the average purchase price of each Bitcoin has been $75,653.
Since the beginning of this strategy in 2020, the company has increased its inventory through phased and continuous purchases, even during market crash periods, and has only acted to sell a small portion of its assets in a few limited instances. During the years 2025 and 2026 as well, billions of dollars of new capital were allocated to buy Bitcoin, and the company's inventory reached from about 447 thousand to more than 842 thousand Bitcoin.
Despite the sharp drop in stock prices in the past year (-75.9%), the cumulative return of the stock since the implementation of the Bitcoin strategy still remains at about 660%. The company's market cap is $36.4 billion and its enterprise value is $54.6 billion; a figure that is approximately equal to the net value of the Bitcoin it owns.
From a financial perspective, the company has $22.2 billion in debt and preferred stock against more than $53 billion in Bitcoin assets; therefore, its leverage ratio is about 12.6%, which shows that the major part of the balance sheet value is still supported by Bitcoin.
What distinguishes these data is not just the volume of purchases; but the changing role of a publicly-traded company into a tool for accumulating scarce capital. Strategy has practically transformed from a software company into an institution whose performance depends more than anything on the management and growth of Bitcoin reserves. If this trend continues, the decisions of this company can affect not only the price of Bitcoin, but also the behavior of institutional investors and the structure of the capital market; because for the first time, a private company owns a meaningful portion of the global supply of a decentralized monetary asset.
#Bitcoin #Strategy #Bitcoin_Treasury #Institutional_Investment
Since the beginning of this strategy in 2020, the company has increased its inventory through phased and continuous purchases, even during market crash periods, and has only acted to sell a small portion of its assets in a few limited instances. During the years 2025 and 2026 as well, billions of dollars of new capital were allocated to buy Bitcoin, and the company's inventory reached from about 447 thousand to more than 842 thousand Bitcoin.
Despite the sharp drop in stock prices in the past year (-75.9%), the cumulative return of the stock since the implementation of the Bitcoin strategy still remains at about 660%. The company's market cap is $36.4 billion and its enterprise value is $54.6 billion; a figure that is approximately equal to the net value of the Bitcoin it owns.
From a financial perspective, the company has $22.2 billion in debt and preferred stock against more than $53 billion in Bitcoin assets; therefore, its leverage ratio is about 12.6%, which shows that the major part of the balance sheet value is still supported by Bitcoin.
What distinguishes these data is not just the volume of purchases; but the changing role of a publicly-traded company into a tool for accumulating scarce capital. Strategy has practically transformed from a software company into an institution whose performance depends more than anything on the management and growth of Bitcoin reserves. If this trend continues, the decisions of this company can affect not only the price of Bitcoin, but also the behavior of institutional investors and the structure of the capital market; because for the first time, a private company owns a meaningful portion of the global supply of a decentralized monetary asset.
#Bitcoin #Strategy #Bitcoin_Treasury #Institutional_Investment
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