Michael Saylor’s Strategy Raises $84B, Expands Corporate Bitcoin Holdings

Michael Saylor's Strategy (formerly MicroStrategy) has solidified its position as a dominant force in cryptocurrency investment by leveraging a capital-markets strategy of raising funds through stock and debt offerings to accumulate over $60 billion in Bitcoin. This approach has driven Strategy's market capitalization from $1 billion to over $100 billion within five years, with the company's stock outperforming Bitcoin and most U.S. crypto ETFs this year. Despite this success, Saylor resists disclosing the public Bitcoin wallet addresses holding his firm's assets, citing security risks, although blockchain analytics firm Arkham Intelligence has publicly identified the majority of these holdings. Meanwhile, Wall Street banks are cautiously exploring entry into the crypto space, with firms like JPMorgan Chase showing interest in limited pilot programs amid regulatory uncertainty. Additionally, Saylor's Strategy is exploring partnerships related to Ethena's ENA tokens, indicating a strategic expansion beyond Bitcoin accumulation. Overall, Saylor's unique investment model continues to influence the crypto market, even as traditional financial institutions approach the sector with measured optimism.