- Strategy now holds over 592,000 BTC, representing 2.8% of Bitcoin’s supply, with $21.3B in unrealized gains.
- Following its NASDAQ-100 entry, Strategy’s stock surged as Bitcoin accumulation accelerated with eight large purchases in late 2024.
MicroStrategy, now operating under the commercial name “Strategy,” has been purchasing Bitcoin (BTC) for five years. However, it was not until late 2024—after its inclusion in the NASDAQ-100—that the company experienced a sharp rise in its stock value.
During that period, the firm acquired 194,000 BTC through eight separate transactions between November and December. This accumulation coincided with the company’s share price reaching a record high of $543 by the end of November.
As of today, Strategy holds 592,345 BTC. This represents approximately 2.8% of Bitcoin’s capped supply of 21 million coins. According to data from BitGo, the company’s unrealized gains on its BTC position stand near $21.3 billion. Despite a 50% drop in the first quarter of 2025, Strategy has maintained a steady pace, averaging three Bitcoin purchases per month.
Market attention has recently turned to speculation around Strategy’s possible inclusion in the S&P 500. Unlike the NASDAQ-100, which mainly includes technology firms, the S&P 500 covers a broader set of industries—from energy and healthcare to finance. The inclusion of Strategy would introduce a company whose balance sheet is heavily focused on Bitcoin into an index historically dominated by more traditional financial profiles.
Meanwhile, the number of public companies holding Bitcoin has doubled in the past year. There are now 151 firms with BTC on their books. Observers link this rise to the exposure Strategy gained through the NASDAQ-100 inclusion, which placed both the company and Bitcoin in a broader corporate spotlight.
Investors are now considering whether an S&P 500 listing would replicate—or even surpass—that effect. The logic stems from the prior outcome: Strategy’s market visibility increased, Bitcoin’s relevance expanded in financial media, and the asset gained indirect corporate validation.
Beyond financial markets, public interest has also grown. Online mentions of MSTR reached a three-month high in June, indicating that the conversation is not limited to stock performance. Instead, attention is shifting toward the implications of having Bitcoin represented in one of the most tracked equity indices in the world.
