Bitcoin News Today: Despite S&P 500 Snub, MicroStrategy Expands Bitcoin Holdings to $72B

MicroStrategy Inc., the world’s largest corporate holder of Bitcoin, has continued its aggressive accumulation strategy, acquiring 4,048 additional Bitcoin (BTC) between August 26 and September 1, 2025, at an average price of $110,981 per coin. The purchase, financed through at-the-market (ATM) equity programs, raised its total Bitcoin holdings to 636,505 BTC, valued at $46.95 billion on a cost basis. The company’s average acquisition price across all purchases now stands at $73,765, significantly below the current market price, resulting in substantial unrealized gainsStrategy’s bitcoin stash now worth $71B after latest buy^[1].

The latest acquisition was funded by proceeds from the sale of 1.69 million shares of preferred and common stock, generating $471.8 million in net proceeds. This approach aligns with founder Michael Saylor’s strategy of leveraging capital markets to expand Bitcoin exposure, with the firm now holding over 3% of the total Bitcoin supplyStrategy’s bitcoin stash now worth $71B after latest buy^[1]. MicroStrategy’s public dashboard, compliant with Regulation FD, provides real-time updates on holdings, share issuance, and performance metrics, reinforcing transparency in its treasury managementStrategy’s bitcoin stash now worth $71B after latest buy^[1].

In September, the company added 850 BTC for $99.7 million, averaging $117,344 per coin, pushing total holdings to 639,835 BTC valued at approximately $72 billion. The firm’s year-to-date yield on Bitcoin holdings reached 26% in 2025, driven by sustained price appreciation and strategic financing. The purchase was funded via ATM sales of common stock (MSTR) and perpetual preferred stock classes (STRF, STRK), part of its “42/42” capital plan targeting $84 billion in equity and convertible notes for Bitcoin acquisitions by 2027Strategy Grows Bitcoin Treasury to 639,835 BTC After $100 …^[2].

MicroStrategy’s Bitcoin strategy has sparked broader institutional interest, with 178 public companies now holding Bitcoin, including firms like Marathon Digital Holdings (MARA) and Bullish. However, the firm faced a setback when it was excluded from the S&P 500 index in favor of companies like AppLovin and Robinhood. Analysts attribute this to a perceived bias against crypto-focused firms, though MicroStrategy’s dominance in Bitcoin holdings remains unchallengedStrategy Grows Bitcoin Treasury to 639,835 BTC After $100 …^[2].

The company’s approach to funding Bitcoin purchases has evolved to include convertible senior notes, credit facilities, and operating cash flow. For instance, in 2024, MicroStrategy issued $650 million in 0% convertible notes with a 55% conversion premium, reducing borrowing costs while preserving equity upside. This model has allowed the firm to scale Bitcoin acquisitions without relying solely on equity dilutionStrategy Acquires 4,020 BTC and Now Holds 580,250 …^[9]. In July 2025, Matador Technologies, a Bitcoin treasury firm, secured a $100 million facility to expand its holdings, illustrating similar strategies across the sectorCorporate Bitcoin Treasury Strategies: Benefits, Steps, and Risks^[8].

Critics highlight risks associated with MicroStrategy’s leveraged approach, including Bitcoin’s volatility and potential interest rate hikes. A sharp decline in Bitcoin’s price could lead to impairment losses, while rising borrowing costs could strain liquidity. However, proponents argue that Bitcoin’s fixed supply and decentralized nature position it as a superior hedge against inflation and fiat devaluation compared to gold or oilUS Bitcoin reserve vs. gold and oil reserves: How do …^[5].

Looking ahead, MicroStrategy’s strategy aligns with broader trends in corporate Bitcoin adoption. Legislative efforts, such as the proposed BITCOIN Act, aim to establish a U.S. government Bitcoin reserve, potentially legitimizing the asset as a strategic reserve. Saylor has long advocated for governments to hold Bitcoin, citing its role in enhancing financial sovereignty and resilience against geopolitical risksStrategy Grows Bitcoin Treasury to 639,835 BTC After $100 …^[2].