Bitcoin treasury giant Strategy has significantly expanded its Bitcoin reserves, announcing the purchase of an additional 15,355 BTC between April 21 and April 27. According to a filing with the Securities and Exchange Commission (SEC) on Monday, the firm spent approximately $1.42 billion on the acquisition, buying at an average price of $92,737 per Bitcoin.
With this latest purchase, Strategy’s total Bitcoin holdings now stand at a staggering 553,555 BTC, valued at over $52 billion at current market prices. The company’s average purchase price across its Bitcoin treasury sits at $68,459 per coin, resulting in unrealized paper gains of roughly $14 billion. Strategy now controls about 2.6% of Bitcoin’s maximum 21 million supply—further cementing its position as the largest corporate holder of Bitcoin globally.
The firm funded its acquisitions through a combination of equity offerings. Last week, Strategy raised approximately $1.4 billion by selling 4,020,000 shares of its class A common stock (MSTR) and secured an additional $37.5 million by selling 435,069 shares of its perpetual strike preferred stock (STRK). As of April 27, Strategy still has $128.7 million worth of MSTR shares and $20.92 billion worth of STRK shares available for future issuance under its current equity programs.
These moves align with Strategy’s broader “21/21 Plan,” an ambitious initiative aimed at raising $42 billion through a combination of equity and fixed-income securities to continually expand its Bitcoin treasury.
Corporate Accumulation Trend Intensifies
Strategy’s executive chairman, Michael Saylor, once again hinted at the firm’s Bitcoin purchases over the weekend, posting his trademark phrase: “Stay humble. Stack sats.” The post, alongside an update to Strategy’s Bitcoin tracker, signaled that the company’s aggressive accumulation strategy shows no signs of slowing down.
The firm has been on a rapid buying spree in recent weeks. Between April 14 and April 20, Strategy purchased 6,556 BTC for approximately $555 million, securing the coins at an average price of $84,785 each. That acquisition raised Strategy’s holdings to 538,200 BTC prior to the latest $1.42 billion expansion.
New Bitcoin-Native Challenger Emerges
Meanwhile, the broader corporate Bitcoin race is heating up. Last week, major players including Cantor Fitzgerald, SoftBank, Bitfinex, and Tether announced a joint $3.6 billion Bitcoin-focused venture: Twenty One Capital. Led by Strike CEO Jack Mallers, the new firm is preparing to launch with over 42,000 BTC under management, positioning itself as a leaner, more transparent alternative to Michael Saylor’s Strategy.
According to SEC filings, Twenty One Capital aims to offer a “pure play” on Bitcoin, distinguishing itself from Strategy’s growing treasury model. Analysts at K33 Research noted that while Strategy’s per-share Bitcoin exposure dilutes as it accumulates more coins, Twenty One Capital starts with a clean cap table and a focus on maximizing Bitcoin ownership per share.
The company has introduced two custom metrics—Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR)—to provide transparent measurements of share-backed Bitcoin value and performance over time.
Beyond simply holding Bitcoin, Twenty One Capital plans to build a full Bitcoin-native corporate ecosystem, including financial products, lending, and advisory services, targeting the surging demand for direct Bitcoin exposure among both institutional and retail investors.
Quick Facts
- Strategy acquired an additional 15,355 BTC for $1.42 billion between April 21–27, 2025.
- The firm now holds 553,555 BTC, representing about 2.6% of Bitcoin’s maximum supply.
- Strategy’s average Bitcoin purchase price stands at $68,459 per BTC, resulting in unrealized gains of roughly $14 billion.
- Rival firm Twenty One Capital, backed by major crypto players, is preparing to launch with 42,000 BTC under management.
