Michael Saylor's Strategy's 500,000 BTC Accumulation Nears: What's Next?

Michael Saylor's Strategy, the self-styled Bitcoin treasury firm previously known as MicroStrategy, is closing in on a historic milestone — half a million $BTC holdings. In a recent tweet, Bitcoin historian Pete Rizzo noted that Strategy is now $80 million away from reaching 500,000 $BTC in holdings.

Under Saylor’s leadership, Strategy has consistently doubled down on Bitcoin, making it one of the largest corporate holders of the cryptocurrency. As of Feb. 23, 2025, Strategy held 499,096 $BTC, acquired for nearly $33.1 billion at about $66,357 per Bitcoin. This implies that the firm is just 904 $BTC away from the 500,000 $BTC milestone.

At Bitcoin's current price range, this would imply that an additional $80 million investment could push Strategy past the half-million $BTC mark.

Amid the ongoing market sell-off, Bitcoin fell to lows of $82,111 from highs of $89,305 in Wednesday's session before slightly rebounding near $86,000 on Thursday. At the time of writing, $BTC was trading down 1.1% in the last 24 hours to $86,026.

Strategy adds $2 billion $BTC

Strategy's Bitcoin holdings got a major boost this week, with the purchase of $1.99 billion Bitcoin using the proceeds from last week's convertible bond sale. In a Feb. 24 announcement, Strategy stated that it had acquired 20,356 $BTC for nearly $1.99 billion at about $97,514 per Bitcoin.

Since late October, the corporate-software-company-turned-leveraged-Bitcoin-proxy, led by cofounder and chairman Michael Saylor, has purchased Bitcoin practically weekly. The most recent purchase is the company's fifth largest since starting to buy Bitcoin in 2020. It sold $2 billion in convertible notes last week to cover the $BTC purchases.

In October, Strategy announced a plan to raise $42 billion by 2027 to support Bitcoin purchases through at-market stock sales and fixed-income instruments. It now holds around $47.7 billion in Bitcoin, or more than 2.5% of all tokens that will ever exist.

Saylor's bold Bitcoin bet has paid off. In a tweet yesterday, Saylor stated that last week, MSTR Treasury operations resulted in a $BTC gain of about 12,520 $BTC, which equates to an excess of over $1 billion.