On Aug 11, 2020, Michael Saylor’s firm (then MicroStrategy) made its first bold move into Bitcoin — buying 21,454 BTC for $250M at just ~$12K per coin. MSTR stock was $14.
Fast forward to 2025:
BTC > $122K
MSTR (now Strategy) ≈ $400
Holding 628,791 BTC (~3% of supply)
Avg. buy price: $73,277
$46B invested → $30B+ in unrealized profit
This playbook inspired traditional giants to funnel billions into BTC this year. And with bonds and now preferred shares, Strategy has become the ultimate indirect Bitcoin exposure play — where “Bitcoin per share” is the new valuation metric.
From $14 to $400. From $250M to $76B. This is what conviction looks like. 💛
