Strategy Inc. Bitcoin Holdings Surge 50% to $57.2 Billion

Michael Saylor’s software company, Strategy Inc., has seen a significant surge in its Bitcoin holdings, propelling the company's valuation to new heights. The recent Bitcoin price surge, which reached an intraday high of $103,400, has had a profound impact on the crypto economy. This surge was driven by a flood of fresh spot-ETF inflows and optimism surrounding U.S.-China trade talks.

Strategy Inc., formerly known as MicroStrategy, has amassed a substantial Bitcoin stash. According to a May 4 regulatory filing, the company now controls 555,450 BTC after purchasing an additional 1,895 coins for $180 million at an average price of $95,167. Marked to the current price of $103,000, the trove is worth approximately $57.2 billion, resulting in an unrealized gain of about $19 billion on its $38 billion cost basis. This stash alone exceeds the company’s $6 billion equity value, highlighting why Executive Chairman Michael Saylor has become one of the most vocal advocates for Bitcoin among corporate leaders.

Strategy Inc. has unveiled an ambitious capital-raising blueprint, revealed on May 1, which aims to double the firm’s previous equity-and-debt target. This plan, known as the “42 & 42 Plan,” involves raising $42 billion in stock sales matched by $42 billion in convertible notes. If successful, this plan could fund the acquisition of nearly half a million additional coins by 2027, pushing Strategy’s holdings toward the one-million-BTC mark, which represents roughly 5% of all Bitcoin that will ever exist.

The potential for Strategy Inc. to hit a trillion-dollar valuation has become a topic of mainstream debate. At the current 555,000 BTC balance, a Bitcoin price of $1.8 million would put Strategy’s Bitcoin pile alone at the trillion-dollar threshold. If the company doubles its stack to one million coins, that hurdle drops to an even $1 million. Strike CEO Jack Mallers recently argued that macro-level adoption could catapult Bitcoin “400-plus times higher,” implying seven-figure prices within the next decade. Saylor believes that the company’s fortunes will track the monetary energy of Bitcoin and that a trillion-dollar valuation is mathematically inevitable once the asset becomes a recognized institutional reserve.

However, the aggressive leverage strategy comes with significant risks. The same mark-to-market rule that forced Strategy to record a $4.2 billion paper loss when Bitcoin dipped to $85,000 in March will magnify future drawdowns. Rising Treasury yields also mean new debt will cost far more than the zero-coupon convertibles the firm floated in 2021. Short sellers argue that if Bitcoin retraces to the mid-$70,000s, Strategy’s net asset value could swing negative overnight, making its equity the ultimate high-beta proxy for Bitcoin volatility.

Bitcoin’s charge past $103,000 has reignited six-figure euphoria, and Strategy sits at the molten core of that narrative. If Saylor can secure $84 billion in fresh dry powder—and if Bitcoin’s halving-driven supply shock lifts prices anywhere near institutional models that flag $500,000–$1 million—the “software company turned BTC vault” could indeed morph into the world’s first trillion-dollar unicorn. For now, every tick up (or down) in Bitcoin will echo through Strategy’s share price—amplified, leveraged, and impossible to ignore.