Main Points:
- Michael Saylor signals resumption of BTC purchases after a one-week pause
- MicroStrategy holds 597,325 BTC ($42.4 B) acquired at an average of $70,982 each
- Q2 2025 saw corporate treasuries add 159,107 BTC, lifting total corporate holdings to 847,000 BTC ($91 B)
- New entrants like GameStop and Sequans Communications join the BTC buying spree
- Accelerated accumulation creates a supply shock, driving price to new highs
- Analysts caution that debt-funded buys may amplify systemic risks
1. Michael Saylor Resumes Bitcoin Purchases
On Sunday, July 13, 2025, Strategy (formerly MicroStrategy) co-founder Michael Saylor tweeted, “Some weeks, you don’t just HODL,” hinting that the company would restart Bitcoin acquisitions after its first halt in weekly purchases since late March. The one-week pause from June 30 to July 6 followed twelve consecutive weeks of accumulation, during which the firm spent roughly $6.77 B to buy 69,140 BTC at an average price near $97,906.
While Strategy did not disclose exact weekly targets, the June 30 purchase of 4,980 BTC for $532 M (597,325 BTC total) underscores its commitment to using Bitcoin as a primary treasury asset. Alongside its holding spree, the company announced a $4.2 B preferred stock issuance, earmarked for both general corporate purposes and potential future BTC purchases.
2. MicroStrategy’s Record Holdings
As of July 14, 2025, Strategy’s Bitcoin treasury stands at 597,325 BTC, acquired for an aggregate cost of approximately $42.4 B—an average entry price of $70,982 per coin. The market value of these holdings reached $64.7 B by early July, generating an unrealized gain of $14.05 B for Q2, a sharp contrast to a $6 B loss in Q1.
MicroStrategy’s stock has mirrored this performance: trading around $401.80 after the pause, it has climbed over 38% in 2025, outpacing Bitcoin’s 16.1% return and the S&P 500’s 6.1% gain. Yet, it remains below its November 2024 peak of $543.
3. Broader Corporate Bitcoin Adoption
MicroStrategy is no longer alone. Q2 2025 saw corporate treasuries add a record 159,107 BTC, lifting total corporate holdings to 847,000 BTC—about 4% of Bitcoin’s maximum supply and valued near $91 B. Public companies now hold 847,000 BTC, up 23% QoQ, fueled by entries like GameStop, Figma, and Sequans Communications, which acquired 370 BTC funded by a $384 M capital raise.
According to Stephen Cole, co-founder of crypto treasury solutions provider Castle, “The latter half of 2025 will mark a pivotal moment for Bitcoin’s adoption as a treasury asset, driven by a convergence of global market trends, shifting corporate strategies, and institutional validation”.
4. Supply Shock and Market Implications
The surge in corporate buying outpaces miner production. Miners generate roughly 450 BTC daily (13,500 BTC monthly), yet Strategy alone bought an estimated 379,800 BTC over the past 182 days—an average of 2,087 BTC per day—creating what Adam Livingstone calls a “pseudo-halving” in supply . The miner reserve metric, tracking BTC held in miner wallets, has plunged, signaling tight supply dynamics.
This demand-driven supply shock has propelled Bitcoin prices to break new thresholds, with intraday peaks above $109,000 and consolidation near $108,180 by mid-July.
5. Analyst Concerns Over Leverage and Sustainability
Despite the bullish momentum, some analysts warn that debt-funded acquisitions by institutional buyers carry systemic risks. Reliance on leverage exposes firms to margin calls should BTC correct sharply. A swift downturn could cascade through corporate balance sheets, amplifying market volatility.
Moreover, while supportive policy environments—such as recent OCC guidance allowing banks to trade crypto assets—encourage adoption, regulatory headwinds (e.g., potential stricter stablecoin frameworks) may temper enthusiasm in the second half of 2025.
6. Recent Market Context and Outlook
The price of Bitcoin soared 30.7% in Q2 2025, outperforming all asset classes, as global investors sought non-sovereign stores of value amid easing tariff tensions and geopolitical uncertainties. Correlations with U.S. equities remain elevated, indicating Bitcoin’s growing integration into mainstream portfolios.
Institutional derivatives markets echo this optimism: BTC options traders target the $120,000 strike, anticipating further upside . Meanwhile, public entities like Tesla continue to hold BTC, and new actors—ranging from sovereign treasuries to pension funds—are evaluating allocations.
7. Figures and Metrics
Below is a clear overview of MicroStrategy’s latest buy and the broader Q2 institutional landscape:
| Date | BTC Purchased | Amount (USD Million) | Total Holdings (BTC) |
|---|
| 2025-06-30 | 4,980 | 532 | 597,325 |
| Metric | Value |
|---|
| Q2 2025 Corporate BTC Purchases | 159,107 BTC |
| Total Corporate BTC Holdings (End Q2) | 847,000 BTC (~$91 B) |
Conclusion
MicroStrategy’s brief halt and immediate resumption of Bitcoin purchases underscore Michael Saylor’s enduring conviction in BTC as a strategic treasury asset. As corporate adoption accelerates—spurred by record Q2 buy volumes and an expanding roster of new entrants—the resulting supply shock may sustain upward price momentum. Yet, the rise of debt-funded acquisitions invites scrutiny over leverage risks and market stability. Looking ahead, evolving regulations, derivative market positioning, and macroeconomic factors will shape whether this institutional trend translates into a long-term paradigm shift or a cautionary tale of overextension.
