MicroStrategy's $2.5B Bitcoin Buy Elevates Holdings to 4% of Supply

MicroStrategy has boosted its Bitcoin treasury to 815,061 BTC—about 4% of circulating supply—via a $2.5 billion purchase disclosed on April 20, intensifying its market influence. The firm has now spent $63.6 billion at an average cost of $75,527 per coin, holding 76% of Bitcoin owned by public companies after buying ~45,000 BTC in the past 30 days versus others' ~1,000. While its $8.2 billion unsecured debt avoids margin calls and $2.2 billion cash covers 30 months of obligations, future bond maturities from 2028 pose risks. Investors should watch for buying pauses that could trigger price swings and opportunities.