MicroStrategy's Bitcoin Holdings as of Now

MicroStrategy, a business intelligence software company, owns more bitcoin than any other publicly traded company. As of the most recent public disclosure, the company holds over 140,000 bitcoin. The exact number changes when the company buys or sells, so the figure you see today may differ from what it was last month.

The company began buying bitcoin in August 2020 as part of a deliberate strategy to hold it as a corporate asset instead of cash. Since then, MicroStrategy has made dozens of purchases, sometimes buying small amounts and sometimes buying thousands of coins at once. Each purchase is announced publicly, which is why the total is known.

You can find MicroStrategy's current bitcoin holdings on their investor relations website or in their quarterly financial reports filed with the Securities and Exchange Commission (SEC). These filings are public documents that any person can read for free.

Key Takeaways

  • MicroStrategy holds more bitcoin than any other publicly traded company, with holdings exceeding 140,000 coins.
  • The company began buying bitcoin in 2020 and has continued to purchase more through multiple market cycles.
  • Each bitcoin purchase is announced publicly and reported in SEC filings, so the holdings are verifiable and transparent.
  • MicroStrategy's strategy treats bitcoin as a long-term corporate asset rather than a short-term trading position.
  • The company's total bitcoin value fluctuates with the market price, even though the number of coins owned stays the same between purchases.

Why MicroStrategy Bought Bitcoin in the First Place

MicroStrategy's founder and chairman, Michael Saylor, decided the company should hold bitcoin because he believed it was a better store of value than holding cash. In 2020, interest rates on savings accounts and money market funds were extremely low, so keeping cash in a bank account meant losing purchasing power over time due to inflation.

Saylor argued that bitcoin, as a scarce digital asset with a fixed supply, would preserve the company's wealth better than cash sitting in a bank. This reasoning appealed to the company's board and shareholders, and MicroStrategy began converting portions of its cash reserves into bitcoin purchases.

The strategy was unusual for a major corporation at the time. Most large companies keep their reserves in cash, bonds, or other traditional investments. MicroStrategy's move made headlines and influenced other companies to consider bitcoin as a treasury asset, though most have not followed to the same extent.

How MicroStrategy's Bitcoin Purchases Have Unfolded

MicroStrategy did not buy all its bitcoin at once. Instead, the company has made purchases over several years, at different price points. This approach, sometimes called dollar-cost averaging, means the company paid different amounts for different portions of its holdings.

The company's first purchase in August 2020 was 21,454 bitcoin. Over the following months and years, MicroStrategy announced additional purchases in batches. Some purchases were small, adding a few hundred coins. Others were large, adding thousands of coins in a single transaction.

Each purchase announcement includes the number of coins bought and often the price paid. These announcements are made through press releases and SEC filings, so investors and the public can track the company's strategy in real time. The total cost of all purchases combined is in the billions of dollars.

What MicroStrategy's Holdings Are Worth

The dollar value of MicroStrategy's bitcoin holdings changes every day because the price of bitcoin changes every day. When bitcoin's price rises, the value of the company's holdings rises. When bitcoin's price falls, the value falls as well, even though the company still owns the same number of coins.

For example, if MicroStrategy owns 140,000 bitcoin and the price is $40,000 per coin, the holdings are worth $5.6 billion. If the price rises to $50,000 per coin, the same 140,000 coins are now worth $7 billion. The company did not buy or sell anything — only the market price changed.

This is why you cannot give a single answer to "how much is MicroStrategy's bitcoin worth." The answer depends on the date you are asking about and the price of bitcoin on that date. To find the current value, multiply the number of coins MicroStrategy owns by the current price of bitcoin.

How MicroStrategy Reports Its Bitcoin Holdings

MicroStrategy reports its bitcoin holdings in quarterly and annual financial statements filed with the SEC. These documents are called 10-Q filings (quarterly) and 10-K filings (annual). Any person can read these filings for free on the SEC's website at sec.gov.

In the financial statements, MicroStrategy lists bitcoin as an asset on its balance sheet. The company also discloses the cost basis (what it paid for the bitcoin) and the current value. If the market price of bitcoin has risen above what the company paid, the difference is recorded as an unrealized gain. If the price has fallen, it is recorded as an unrealized loss.

The company also discusses its bitcoin strategy in the management discussion and analysis section of these filings. This section explains why the company holds bitcoin and how it plans to manage the holdings going forward.

Whether Other Companies Have Followed MicroStrategy's Lead

After MicroStrategy's bitcoin purchases became public, some other companies began buying bitcoin as well. Tesla, Square (now Block), and a few others added bitcoin to their balance sheets. However, no other publicly traded company has accumulated as much bitcoin as MicroStrategy.

Most companies that bought bitcoin did so in smaller amounts, either as a one-time purchase or as a smaller portion of their overall treasury. MicroStrategy's commitment to bitcoin has been more aggressive and sustained over time, which is why its holdings are so much larger.

Some companies that bought bitcoin early have since sold portions of their holdings or stopped buying. MicroStrategy has continued to buy bitcoin consistently, which has allowed it to accumulate the largest corporate position in the cryptocurrency.

What Happens to MicroStrategy's Bitcoin if the Company Is Sold

If MicroStrategy were ever acquired by another company or went through a major restructuring, the acquiring company would inherit the bitcoin holdings. The bitcoin would become part of the acquiring company's assets, just as any other asset would transfer in a corporate acquisition.

Alternatively, if MicroStrategy's board decided to sell the bitcoin, the company would announce the sale publicly and report it in SEC filings. The proceeds would become cash on the company's balance sheet and could be used for dividends, debt repayment, or other corporate purposes.

As of now, MicroStrategy's leadership has stated that the company intends to hold its bitcoin long-term and does not plan to sell. However, corporate strategy can change, and any major decision about the holdings would be disclosed to shareholders and the public.

Frequently Asked Questions

Does MicroStrategy own more bitcoin than any government?

MicroStrategy owns more bitcoin than most governments have disclosed, but some governments may hold bitcoin that has not been publicly reported. El Salvador is known to hold bitcoin as part of its national treasury, and the United States government holds bitcoin seized from criminal cases. Exact comparisons are difficult because not all bitcoin holdings are transparent.

Can I see MicroStrategy's bitcoin holdings on the blockchain?

MicroStrategy does not publish the specific wallet addresses where its bitcoin is stored, so you cannot track the holdings directly on the blockchain. The company discloses the total number of coins it owns in SEC filings, but the actual coins are held in custody by third-party providers for security reasons.

Has MicroStrategy ever sold any of its bitcoin?

MicroStrategy has sold small amounts of bitcoin on rare occasions, usually to cover specific expenses or to rebalance its holdings. However, these sales have been minimal compared to the company's total holdings. The vast majority of the bitcoin the company has bought remains in its possession.

What price did MicroStrategy pay for its bitcoin on average?

MicroStrategy's average cost per coin varies depending on which purchases you include in the calculation. The company's first purchases in 2020 were at lower prices than purchases made in 2021 and 2024. SEC filings disclose the cost basis, which you can use to calculate the average price paid across all purchases.

Why does MicroStrategy's bitcoin strategy matter to me?

MicroStrategy's strategy is relevant if you are interested in how large institutions view bitcoin as an asset. The company's decision to hold bitcoin as a treasury reserve influenced other companies and investors to consider bitcoin differently. Understanding corporate bitcoin holdings can inform your own thinking about bitcoin's role in financial markets.