Bitcoin Jumps To $120K, Catapulting Strategy’s Holdings To Record $77.4 Billion

Bitcoin’s recent rally past the $120,000 mark has propelled Strategy’s crypto holdings to an all-time high valuation of $77.4 billion. The company’s aggressive accumulation strategy is now yielding massive paper gains as BTC prices reach new heights.

Strategy’s Bitcoin Holdings Hit Record Value

Strategy, formerly known as MicroStrategy, now holds approximately 640,031 BTC, accounting for roughly 3.2% of Bitcoin’s circulating supply. The firm added 11,085 BTC over the past seven weeks, including a recent acquisition of 196 BTC on September 29, pushing the total value of its Bitcoin assets to a historic high of $77.4 billion.

Our journey began with $0.25 billion in Bitcoin — and an immediate $0.04 billion unrealized loss. Today, we closed at a new all-time high: $77.4 billion in BTC NAV. pic.twitter.com/9k5VkAaG8p

— Michael Saylor (@saylor) October 2, 2025

Strategic Accumulation Aligns with Market Recovery

The company has continued to acquire BTC in tandem with its price resurgence. According to market data, Strategy’s ongoing purchases have closely tracked the upward momentum of Bitcoin, reinforcing its role as a major institutional player in the space.

This accumulation strategy amplifies the firm’s exposure: as BTC climbs, gains in its portfolio soar, but market pullbacks can also significantly impact valuation.

Comparisons to Nations and Corporations

With a valuation of $77.4 billion, Strategy’s holdings now rival the market capitalizations of leading banks and even match the gross domestic product of several smaller nations. This rapidly expanding crypto treasury sets Strategy apart from other institutional holders, both in scale and approach.

Impact on Financials and Investor Strategy

While Strategy has posted substantial paper gains, the firm has also faced periods of deep unrealized losses during market downturns. Recent filings detailed losses in the billions, highlighting the volatility of its BTC-centric balance sheet.

To maintain its buying spree, Strategy recently announced a $21 billion equity offering, aiming to fund new acquisitions and strengthen its financial position. This move, while supporting further crypto purchases, also raises concerns among investors about share dilution.

Featured image from Unsplash, chart from TradingView