Michael Saylor’s Bitcoin strategy is delivering results. On April 2, the chairman of Strategy, formerly known as MicroStrategy, announced that the company’s treasury operations had generated 15,586 BTC in profits—valued at approximately $1.36 billion. The gains followed Bitcoin’s breakout above $87,000.
The announcement came via a post on X, where Saylor reported that the company’s treasury operations had yielded a significant Bitcoin gain.
Aggressive Accumulation Continues
Just days earlier, from March 24 to March 30, Strategy had acquired 22,048 Bitcoin at an average price of $86,969, spending $1.92 billion. The purchases were funded through at-the-market offerings of its MSTR, STRK, and STRF stocks. At the time of the transaction, MSTR was trading at $282, STRK at $84, and STRF at $92 in pre-market hours.
With the acquisition, Strategy’s total Bitcoin holdings climbed to 528,185 BTC, worth an estimated $35.63 billion. The company’s average purchase price stands at $67,458 per Bitcoin.
Strategy has accumulated Bitcoin since 2020, transforming its corporate reserves into a Bitcoin-dominated balance sheet. It is currently the largest corporate holder of Bitcoin in the world.
Market Response and Rival Activity
Bitcoin’s recent price recovery appears to have vindicated Strategy’s aggressive approach. After a bearish spell that saw losses across holdings, the digital currency has rebounded, climbing 2.04% over the past day and trading at $86,477.36 at press time, according to CoinMarketCap data.
The rally has boosted investor sentiment around Strategy. Saylor’s latest post—“The only thing better than Bitcoin is more Bitcoin”—indicates the company remains committed to its acquisition strategy. Hours before revealing the $1.36 billion gain, he hinted at additional Bitcoin purchases.
Elsewhere in the corporate crypto space, MARA Holdings, the world’s second-largest corporate Bitcoin holder with 46,374 BTC, is taking steps to expand. The company filed an 8-K with the SEC on March 28, announcing a $2 billion stock offering. MARA is partnering with Barclays Capital, BMO Capital Markets, and Cantor Fitzgerald & Co. to execute the offering, which involves selling common stock priced at $0.0001 per share.
Strategy’s intent to increase its Bitcoin holdings extends beyond recent purchases. Earlier this month, the company revealed plans to issue up to $21 billion in 8.00% Series A Perpetual Preferred Stock. The offering is aimed at acquiring more Bitcoin and strengthening its position in the market.
