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MicroStrategy issued convertible bonds to purchase $780 million of Bitcoin, pushing its stash to 226,331 BTC (~$14.9 billion) as prices slipped below $65,000.
MicroStrategy announced a $780 million Bitcoin purchase on March 21, funded by newly issued convertible bonds, taking its total holdings to 226,331 BTC worth roughly $14.9 billion after Bitcoin fell below $65,000 [2].
| At a glance | |
|---|---|
| Purchase size | $780 million |
| BTC bought (latest) | 11,931 BTC (Apr 27‑May 19) |
| Total holdings | 226,331 BTC (~$14.9 billion) |
| Catalyst | Convertible‑bond issuance as price dipped under $65k |
The March 21 bond issue financed the latest acquisition, adding to a series of large‑scale purchases this year. MicroStrategy bought 12,000 BTC for $821 million on March 11 and another 11,931 BTC between April 27 and May 19, bringing its annual spend on Bitcoin to $2.4 billion [2]. Cumulatively, the firm has spent $8.3 billion on Bitcoin since it began buying in 2020, a figure that reflects a long‑term commitment to the asset as an inflation hedge [2].
The aggressive buying coincided with Bitcoin’s price slipping below $65,000, a level that historically has attracted institutional accumulation. According to a separate report, the firm now reports a $6 billion profit from its Bitcoin holdings, a claim that underscores the potential upside of its strategy but is not independently verified [3]. The surge in holdings pushes MicroStrategy’s Bitcoin stake to a market‑cap‑sized position, making it one of the largest corporate Bitcoin owners globally.
With 226,331 BTC on its balance sheet, MicroStrategy’s exposure represents a sizable fraction of the circulating supply, which stands at roughly 19 million BTC. The company’s purchases have been funded largely through debt, a tactic that amplifies both upside potential and financial risk if Bitcoin’s price were to reverse sharply.
MicroStrategy’s continued accumulation highlights how corporate treasury strategies are increasingly intertwined with cryptocurrency markets, raising questions about how other tech giants might respond to the demonstrated upside and the financing risks involved.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 5 outlets · Jun 25, 2026 · How we report
MicroStrategy holds 447,470 Bitcoin, valued at roughly $44.3 billion.
The offering is intended to provide capital for further Bitcoin acquisitions and will be senior to the company’s Class A common stock.
The $1.5 billion debt repayment reduced cash reserves by about 38% and lowered the STRC preferred‑stock price, increasing pressure on dividend coverage.
The company sold approximately 2.7 million common shares, raising $335.5 million, of which $300 million was allocated to its cash reserve.
Analysts cite dilution risk for shareholders, reliance on Bitcoin volatility for capital access, and the strain of rising preferred‑dividend obligations on liquidity.