Michael Saylor announced that Strategy acquired another 1,955 BTC last week at an average price of $111,196 per coin. The deal, worth around $217 million, brings the company’s total holdings to 638,460 BTC – more than any other firm worldwide.
This marks a new milestone: with Bitcoin’s capped supply of 21 million, Strategy now owns just over 3%. Considering that an estimated 2–3 million BTC are lost or inaccessible, the company’s effective share rises closer to 3.5% of the true supply.
While Strategy’s steady purchases have helped support BTC in turbulent markets, the concentration of such a large portion of the supply in a single corporate treasury is increasingly seen as a systemic risk. As one user commented on X:
“That’s too much BTC in one place – it’s a risk for the future. If these coins ever hit the market, it would trigger a massive price collapse.”
Strategy has acquired 1,955 BTC for ~$217.4 million at ~$111,196 per bitcoin and has achieved BTC Yield of 25.8% YTD 2025. As of 9/7/2025, we hodl 638,460 $BTC acquired for ~$47.17 billion at ~$73,880 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/QNIuAWRwEW
— Michael Saylor (@saylor) September 8, 2025
The company has relied on financial instruments such as STRC, STRF, and STRD to expand its Bitcoin position. So far, the strategy has worked. But critics warn that if BTC prices were to decline sharply, Strategy’s high leverage could accelerate a downward spiral.
While this risk is most acute for Strategy, the trend of corporate treasuries accumulating Bitcoin has broadened the exposure across the market.