Strategy —the company formerly known as MicroStrategy— holds 847,363 BTC on its balance sheet as of June 2026, according to the aggregated data that SatsIntel verifies against the company's filings. It is, by a wide margin, the largest corporate Bitcoin treasury in the world: that figure equals roughly 4% of all the Bitcoin that will ever exist (the cap is 21 million) and close to two thirds of all the BTC held by listed companies on the planet. You can check the live figure in real time on its profile in the SatsIntel directory.
How many Bitcoin Strategy holds, in context
847,363 BTC is a figure that's hard to grasp. Three references help. Against Bitcoin's total supply (21 million), Strategy controls around 4%. Against the Bitcoin that trades daily in the markets, its position is so large that the company never sells in the open market. And against the rest of the corporate treasuries —more than 170 listed companies with BTC on their balance sheets— Strategy alone represents close to 66% of the total: the rest of the sector, combined, doesn't reach half of what a single company holds.
What they're worth and the price it paid
At June 2026 market prices, those 847,363 BTC are worth more than $52 billion. The cumulative acquisition cost is around $64 billion, which puts the average purchase price in the region of $75,000 per Bitcoin. That average cost matters: it's the threshold below which the reserve trades at an unrealized loss, and above which every Bitcoin accumulated adds book value. The exact figure moves every day with the price; the live value is always on the Strategy profile.
How it funds the purchases (without touching the business's cash)
The most interesting question isn't how many Bitcoin it holds, but how it pays for them without selling. Strategy has built a funding machine with three levers:
At-the-market (ATM) equity raises: it issues new shares directly into the market at the prevailing price. When the stock trades above the value of its reserve (mNAV greater than 1), issuing and buying BTC adds Bitcoin per share instead of diluting.
Convertible debt: very low-rate bonds that convert into shares if the price rises, a cheap way to raise capital leveraged on the Bitcoin thesis.
Perpetual preferreds: a ladder of fixed-income instruments —STRK at 8%, STRF, STRC at 11.5% monthly and STRD— that pay a dividend in exchange for capital, without diluting the common stock and with no maturity. It's the balance-sheet model that Michael Saylor has turned into a template for the rest of the sector, explained in detail in our analysis of Strategy's financial engineering.
How the stock is valued: mNAV and BTC Yield
Holding 847,363 BTC doesn't mean the stock is worth exactly that. Two sector-specific metrics explain it. mNAV measures how many times the value of its Bitcoin reserve the company trades at: above 1 there's a premium, below it, a discount. And BTC Yield measures whether the company grows the Bitcoin per share over time —the true test of whether its issuance machine creates or destroys value for the shareholder. A treasury that issues shares to buy BTC only adds value if BTC per share rises; if it falls, it's diluting.
The rest of the sector
Strategy is the benchmark, but it's not alone: Metaplanet in Japan, Twenty One, Marathon, Riot and more than 170 companies replicate the idea at different scales. The full directory of Bitcoin treasuries ranks them by holdings, with mNAV and live data for each. And if you want to understand the phenomenon from scratch, the guide to what a Bitcoin treasury is is the starting point.
Figures as of June 2026, verified against the company's filings. The holding and valuation are updated daily on the Strategy profile. This is educational content, not financial advice.
