Strategy Adds $555M Bitcoin—Stash Hits 538K BTC as Debt Looms

Strategy, led by executive chairman Michael Saylor, has once again strengthened its commitment to Bitcoin with a new acquisition totaling $555.8 million.

Strategy has acquired 6,556 BTC for ~$555.8 million at ~$84,785 per bitcoin and has achieved BTC Yield of 12.1% YTD 2025. As of 4/20/2025, we hodl 538,200 $BTC acquired for ~$36.47 billion at ~$67,766 per bitcoin. $MSTR $STRK $STRFhttps://t.co/Drmb6g2D36

— Strategy (@Strategy) April 21, 2025

According to a regulatory filing released on Monday, the company purchased 6,556 BTC at an average price of $84,785 per coin. This latest acquisition reinforces Strategy’s position as the largest corporate holder of Bitcoin, a role it has embraced since initiating its accumulation strategy in 2020.

The funding for the purchase came from proceeds raised through the company’s two active at-the-market (ATM) equity offering programs. These programs allow Strategy to sell newly issued shares on the open market, using the capital to invest in Bitcoin.

This approach has been a hallmark of Saylor’s long-term vision: to convert the company’s balance sheet into a Bitcoin-backed treasury model.

As of April 20, 2025, Strategy now holds approximately 538,200 BTC. The total cost basis for these holdings stands at approximately $36.47 billion, with an average purchase price of $67,766 per bitcoin.

Despite the volatile nature of cryptocurrency markets, the company’s BTC yield for the year-to-date has reached an impressive 12.1%, showing both timing and market momentum.

Saylor’s unwavering belief in Bitcoin as a superior store of value continues to drive this aggressive acquisition strategy.

By using capital markets and maintaining a buy-and-hold approach, Strategy has positioned itself not only as a software company but also as a prominent institutional force in the digital asset space.

This most recent purchase displays continued confidence in Bitcoin’s long-term value and shows how traditional corporations can use financial tools to gain exposure to digital assets.

Strategy May Need to Sell BTC at a Loss to Cover Debt

According to a recent regulatory filing, Strategy revealed it may be forced to sell some of its Bitcoin holdings to meet financial obligations, potentially below cost basis.

Earlier this month, Strategy’s debt burden stood at $8 billion, with $35 million in annual interest and $150 million in yearly dividends further tightening the noose.

The firm’s software operations no longer generate enough revenue to sustain these obligations, and the long-touted promise of Bitcoin’s perpetual appreciation is being put to a brutal test.

Strategy’s Bitcoin playbook was initially praised for entering Bitcoin early, ahead of the 2021 bull run; the company expanded its holdings through a mix of convertible debt and equity offerings.

On April 7, Strategy also halted its Bitcoin purchases during a period of global financial instability, according to a filing submitted to the U.S. Securities and Exchange Commission.

The pause marked a shift in the firm’s usual aggressive Bitcoin acquisition strategy and came as digital asset markets reacted to fresh geopolitical risks. A legal filing dated April 7 revealed that Strategy did not purchase any Bitcoin between March 31 and April 6.