MicroStrategy Completes $21 Billion Stock Offering, Cementing Its Position as the World's Largest Bitcoin Holder

MicroStrategy, which is now known as Strategy, has completed its record-setting $21 billion at-the-market (ATM) stock offering, and the company is now the world’s largest corporate holder of bitcoin.

This move marks a new phase in MicroStrategy’s (NASDAQ: MSTR) Bitcoin treasury strategy and sets the stage for further expansion in both capital markets and digital assets.

Capital Raise Fuels Record Bitcoin Accumulation

The $21 billion equity raise, which was finalized in early May 2025, enabled MicroStrategy to add 301,335 bitcoin to its balance sheet during the first quarter alone. As of late April, the company holds 553,555 bitcoins, which were acquired at an average price of $68,459 per bitcoin.

At current market prices, this trove is valued at over $52 billion, which is roughly 2.6% of all bitcoin in existence.

Also Read: How To Invest In Bitcoin In 2023: Everything You Need To Know

Every share issued through the ATM offering was directly linked to the company’s core goal: maximizing bitcoin per share and compounding long-term value for shareholders.

From ‘21/21 Plan’ To ‘42/42 Plan’

With the original $21 billion target nearly achieved, MicroStrategy is already planning the next stage of its capital formation journey. The company has introduced the “42/42 Plan,” aiming to raise another $42 billion in both equity and fixed income.

This signals a scalable, perpetual approach to bitcoin accumulation, merging structured capital markets with an efficient treasury strategy to quickly deploy capital.

The company’s framework prioritizes bitcoin-specific KPIs—such as BTC yield, torque, and net asset value (NAV) impact—over traditional metrics like EPS or EBITD.