Michael Saylor's Bitcoin Bet Nears Half-Million Mark

Michael Saylor's strategy, the Bitcoin-focused firm previously known as MicroStrategy, is nearing a significant milestone with its accumulation of 500,000 BTC. As of February 23, 2025, the firm held 499,096 BTC, acquired for nearly $33.1 billion at an average price of approximately $66,357 per Bitcoin. This means that Strategy is just 904 BTC away from reaching the half-million BTC mark.

In a recent tweet, Bitcoin historian Pete Rizzo noted that Strategy is now $80 million away from achieving this historic milestone. At Bitcoin's current price range, an additional investment of around $80 million could push Strategy past the 500,000 BTC threshold.

Strategy's Bitcoin holdings received a significant boost this week, with the purchase of $1.99 billion worth of BTC using the proceeds from last week's convertible bond sale. The firm acquired 20,356 BTC for nearly $1.99 billion at an average price of about $97,514 per Bitcoin. This purchase is the company's fifth-largest since it began buying Bitcoin in 2020.

Since late October, Strategy has been purchasing Bitcoin practically weekly, with the most recent acquisition being the largest since it started its Bitcoin buying spree. The firm has raised funds through at-market stock sales and fixed-income instruments to support its Bitcoin purchases, aiming to reach a total of $42 billion by 2027. As of now, Strategy holds around $47.7 billion in Bitcoin, representing more than 2.5% of all tokens that will ever exist.

Michael Saylor's bold Bitcoin bet has proven to be lucrative. In a tweet yesterday, Saylor announced 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.