Big bets on Bitcoin: Why one company keeps buying despite stock struggles
The Numbers Speak for Themselves
Michael Saylor’s Strategy, the undisputed leader in corporate Bitcoin holdings, continues to make waves in the crypto space. As of last June, the company held a staggering 847,363 Bitcoins, valued at approximately $50.88 billion—more than any other public company on the planet.
Over the years, Strategy has executed 113 Bitcoin purchases, averaging $75,653 per coin. But what’s truly striking is the company’s aggressive buying spree in the past two years. A recent chart, adorned with orange bubbles marking each acquisition, reveals major purchases during price surges in 2024 and 2025.
Saylor himself has been vocal about his bullish stance, teasing on social media that more big moves are coming—hinting at an even larger Bitcoin accumulation strategy.
The Critics Are Mounting
Not everyone is sold on Strategy’s bold Bitcoin crusade. Brad Garlinghouse, a prominent crypto figure, has openly criticized Saylor’s approach. While Garlinghouse acknowledges his belief in Bitcoin, he argues that Strategy’s funding method may have unintended market consequences.
His concerns aren’t unfounded. Strategy’s preferred stock recently hit an all-time low, sending shockwaves through investor sentiment. The company’s regular stock didn’t fare much better—plummeting 8% in a single day, dropping from $86 to $82.31. Though Strategy has enough cash to sustain 10 months of dividends, the stock’s decline signals deep unease among shareholders.
Even the cheaper "shadow" version of Strategy’s stock (STRC), which trades at a discount to the main stock, is now sitting at $74.57—further evidence that while Saylor remains steadfast, the market is hesitant to fully back his vision.
