财经少华
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From buying Bitcoin to altcoins, the 'MicroStrategy Effect' sweeps through U.S. stocks
As of June 19, 2025, 29 publicly traded companies have announced the establishment of cryptocurrency reserves, with 21 of these added in May and June, indicating a surge in corporate interest in crypto assets. Specifically, 20 companies chose BTC, 4 chose SOL, and 3 chose ETH, reflecting that Bitcoin remains the mainstream choice, but SOL and ETH are also gradually gaining attention.
MicroStrategy, as a pioneer of the 'coin hoarding movement', has made Bitcoin its core reserve asset since 2020, investing over $40 billion and holding approximately 590,000 BTC, accounting for nearly 3% of the global circulation. Its stock price has increased by 1600% over three years, far exceeding BTC's 420% increase during the same period, with a market capitalization exceeding $100 billion, successfully entering the NASDAQ 100 index.
Despite limited growth in its regular business, MicroStrategy continues to increase its holdings through financing methods such as convertible bonds. On June 23, it purchased 245 BTC at an approximate price of $105,900 per coin, totaling $26 million. The BTC yield in 2025 reached 19.2%. The company has explicitly stated that there is no limit to its buying and emphasized that the difficulty of future purchases will increase exponentially, but it will optimize purchasing efficiency.
MicroStrategy's success has led to a high correlation between its stock price and BTC price, sparking a craze for 'cryptocurrency securitization'. Other companies such as Siebert Financial, Treasure, and Nano Labs have also followed suit, incorporating BTC, ETH, SOL, and XRP into their reserves, aiming to enhance stock price attractiveness and cater to market preferences for innovative assets. This reflects the accelerating trend of cryptocurrencies as strategic financial assets for companies.
As of June 19, 2025, 29 publicly traded companies have announced the establishment of cryptocurrency reserves, with 21 of these added in May and June, indicating a surge in corporate interest in crypto assets. Specifically, 20 companies chose BTC, 4 chose SOL, and 3 chose ETH, reflecting that Bitcoin remains the mainstream choice, but SOL and ETH are also gradually gaining attention.
MicroStrategy, as a pioneer of the 'coin hoarding movement', has made Bitcoin its core reserve asset since 2020, investing over $40 billion and holding approximately 590,000 BTC, accounting for nearly 3% of the global circulation. Its stock price has increased by 1600% over three years, far exceeding BTC's 420% increase during the same period, with a market capitalization exceeding $100 billion, successfully entering the NASDAQ 100 index.
Despite limited growth in its regular business, MicroStrategy continues to increase its holdings through financing methods such as convertible bonds. On June 23, it purchased 245 BTC at an approximate price of $105,900 per coin, totaling $26 million. The BTC yield in 2025 reached 19.2%. The company has explicitly stated that there is no limit to its buying and emphasized that the difficulty of future purchases will increase exponentially, but it will optimize purchasing efficiency.
MicroStrategy's success has led to a high correlation between its stock price and BTC price, sparking a craze for 'cryptocurrency securitization'. Other companies such as Siebert Financial, Treasure, and Nano Labs have also followed suit, incorporating BTC, ETH, SOL, and XRP into their reserves, aiming to enhance stock price attractiveness and cater to market preferences for innovative assets. This reflects the accelerating trend of cryptocurrencies as strategic financial assets for companies.
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