Main Points:
- Strategy Corp holds 62.3% of all publicly traded companies’ Bitcoin, totaling 628,791 BTC with an average cost basis of $73,227.
- In Q2 2025, public companies bought 134,456 BTC, a 35% increase from Q1, pushing total corporate holdings close to 900,000 BTC.
- Strategy Corp’s $2.521 billion STRC IPO (net $2.474 billion) is the largest U.S. IPO of 2025, funding additional Bitcoin purchases at $117,256 each.
- The corporate “crypto-treasury” model is spreading beyond tech, with firms like hotels and toy makers raising over $86 billion in 2025 for digital asset purchases.
- Strategy Corp’s preferred-stock issuances (STRK, STRF, STRC) illustrate a new financing paradigm, offering monthly dividends tied to Bitcoin performance.
1. The Scale of Strategy Corp’s Bitcoin Hoard
In late July 2025, Strategy Corp announced it had acquired 21,021 BTC at an average price of $117,256, boosting its total holdings to 628,791 BTC. With a cumulative acquisition cost of approximately $46.8 billion, the company’s average cost basis stands at $73,227 per coin. This monumental position represents 62.3% of all Bitcoin held by publicly traded firms—far outstripping any competitor.
[Insert Figure 1 here: Corporate Quarterly BTC Purchases by Quarter – illustrates the surge from 99,857 BTC in Q1 to 134,456 BTC in Q2 2025.]
Strategy Corp’s accumulation has been relentless: this marks its fourth fundraising-driven purchase in 2025 alone. In March, the firm launched STRK (8% fixed dividend) and STRF (10% fixed dividend) offerings. The July STRC issuance dwarfs these, raising $2.521 billion (net $2.474 billion) to continue the balance-sheet Bitcoin model.
2. Funding the Crypto-Treasury Model
Preferred-Stock Issuances as Capital Engines
Strategy Corp’s stretch preferred stock (STRC), priced at $90 per share with a $100 face value, pioneers a monthly dividend structure determined by its board—an innovation designed to attract income-focused investors. The STRC offering is the largest U.S. IPO of 2025 by total proceeds and the biggest perpetual preferred issuance since 2009. Its success underscores the market’s appetite for Bitcoin-backed securities that combine yield with exposure to digital assets.
Replicating the Model Across Industries
While Strategy Corp leads, other sectors have embraced the “crypto-treasury” strategy. According to the Wall Street Journal, firms ranging from hotels to toy makers have raised over $86 billion in 2025 solely for cryptocurrency acquisitions. This trend, hitherto limited to technology firms, signals broader acceptance of digital assets as strategic reserves.
3. Q2 2025: A Record Quarter for Corporate Bitcoin Purchases
Public companies collectively added 134,456 BTC in Q2 2025, up 35% from Q1’s 99,857 BTC—an annualized pace that would absorb the entirety of Bitcoin’s new supply. Fidelity Digital Assets reports that at least 35 firms now hold over 1,000 BTC each, driving the year-to-date corporate accumulation to 243,615 BTC by mid-year.
This pace surpasses even spot Bitcoin ETFs, which are mopping up supply at six times the daily mined output. Institutional treasuries have thus become a critical demand sink, fueling price support and market liquidity.
[Insert Figure 2 here: BTC Holdings: Strategy Corp vs Marathon Digital – compares Strategy’s 628,791 BTC to Marathon Digital’s 46,255 BTC as of mid-2025.]
4. Implications for Investors and Blockchain Applications
For Asset Hunters
The proliferation of corporate crypto treasuries suggests that new investment vehicles—from yield-bearing preferred stocks to convertible debt tied to Bitcoin—will multiply. Investors targeting diversified crypto exposure can look beyond spot holdings to structured products offering income and capital appreciation.
For Revenue Seekers
Monthly dividends on perpetual preferred shares like STRC, STRK, and STRF present an ongoing revenue stream that traditional equity cannot match. As blockchain applications mature, tokens with built‑in yield may attract both retail and institutional capital, mirroring the corporate treasuries’ success.
For Blockchain in Practice
Large-scale corporate adoption drives ecosystem development: custodial services, audit standards, and treasury-management protocols must evolve to support these strategies. Practical uses extend to on‑chain collateralization, lending markets, and tokenized assets, as firms integrate digital reserves into broader financial operations.
Conclusion
Strategy Corp’s dominance—holding over 62% of publicly traded companies’ Bitcoin—demonstrates the viability of a balance-sheet-driven crypto strategy. Its innovative funding model, leveraging perpetual preferred stock with monthly dividends, has set a blueprint for other corporations. Meanwhile, Q2 2025’s record corporate purchases underscore an institutional shift: digital assets are no longer peripheral, but a core component of corporate finance. For those seeking new crypto assets, revenue streams, and practical blockchain applications, the expanding universe of Bitcoin-backed securities and institutional treasury solutions offers fertile ground for exploration and investment.
