Strategy stacks another 4,980 bitcoin as Michael Saylor boldly predicts $21 million BTC in 21 years

Bitcoin treasury company Strategy (formerly MicroStrategy) acquired an additional 4,980 BTC for approximately $531.9 million at an average price of $106,801 per bitcoin between June 23 and June 29, according to an 8-K filing with the Securities and Exchange Commission on Monday.

Strategy now holds a total of 597,325 BTC — worth over $64 billion — bought at an average price of $70,982 per bitcoin for a total cost of around $42.4 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. That's the equivalent of more than 2.8% of bitcoin's total 21 million supply and implies around $21.6 billion of paper gains.

The latest acquisitions were made using proceeds from ATM sales of its Class A common stock, MSTR, perpetual Strike preferred stock, STRK, and perpetual Strife preferred stock, STRF. Last week, Strategy sold 1,354,500 MSTR shares for approximately $519.5 million. As of June 29, $18.1 billion worth of MSTR shares remain available for issuance and sale under that program, the firm said. Strategy also sold 276,071 STRK shares for approximately $28.9 million, with $20.5 billion worth of STRK shares remaining available for issuance and sale under that program. It sold 284,225 STRF shares for $29.7 million, with $1.9 billion remaining.

Strategy's STRK and STRF perpetual preferred stock's respective $21 billion and $2.1 billion ATM programs are in addition to the firm's "42/42" plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027 — upsized from its initial $42 billion , "21/21" plan after the equity side was depleted.

'In 21 years, you'll wish you'd bought more'

Saylor again hinted at the likelihood of another bitcoin acquisition filing ahead of time, sharing an update on Strategy's bitcoin portfolio tracker on Sunday, stating, "In 21 years, you'll wish you'd bought more." — a reference to his recent BTC Prague keynote where he predicted bitcoin would be worth $21 million in 21 years.

Strategy previously acquired an additional 245 BTC for approximately $26 million at an average price of $105,586 per bitcoin between June 16 and June 22 — taking its total holdings to 592,345 BTC. The pace of Strategy's bitcoin buys had generally been slowing in recent weeks as it switched focus from its common stock ATM program to its perpetual preferred stocks for funding bitcoin acquisitions, now returning to tap the MSTR ATM for the first time in over a month.

According to Bitcoin Treasuries data, there are now 134 public companies that have adopted some form of bitcoin treasury, with Tether-backed Twenty One , Nakamoto , Trump Media , and GameStop , recently joining the likes of Semler Scientific , and KULR in adopting the bitcoin acquisition model pioneered by Saylor and Strategy. Japanese investment firm Metaplanet also announced Monday it had purchased an additional 1,005 BTC, bringing its total holdings to 13,350 BTC.

Strategy's $105 billion market cap trades at a significant premium to its bitcoin net asset value, with some investors continuing to air reservations about the firm's premium to NAV valuation and its increasingly numerous bitcoin acquisition programs in general. However, analysts at Bernstein argue that with Strategy's relatively low debt levels and no payments due until 2028, the firm's leverage remains manageable.

MSTR closed down 0.7% on Friday at $383.88, according to The Block's Strategy price page , in a week that saw bitcoin gain 5.6%. MSTR is currently up 1.7% in pre-market trading on Monday, per TradingView , and 28% year-to-date.