Michael Saylor, the co-founder and executive chairman of Strategy (formerly MicroStrategy), has once again made headlines with his aggressive Bitcoin accumulation strategy. After securing billions in capital through convertible notes and equity offerings, Saylor’s firm is gearing up for another wave of Bitcoin purchases. With Strategy already holding nearly 499,000 BTC, valued at over $41 billion, the company’s latest fundraising efforts signal an even more ambitious expansion of its Bitcoin reserves.
The “21/21 Plan” and New Capital Raising Strategy
One of the key developments in Strategy’s approach is its 21/21 plan, which aims to raise $21 billion in capital over the next three years to fund further Bitcoin acquisitions. This plan involves issuing preferred stock and fixed-income securities in a structured and disciplined manner, allowing the company to optimize its Bitcoin purchases based on market conditions.
Most recently, Strategy announced a $2 billion convertible note issuance, further fueling speculation that another major Bitcoin acquisition is on the horizon. This follows a February 2025 purchase of 7,633 BTC worth over $742 million. 
Leveraging “Intelligent Leverage” to Maximize BTC Holdings
Saylor has openly emphasized Strategy’s use of “intelligent leverage”, meaning the company strategically borrows capital at low interest rates to accumulate Bitcoin. Unlike conventional firms that focus on cash reserves or diversified investments, Strategy sees Bitcoin as the ultimate store of value and has structured its financial model around this belief.
Institutional Interest:
BlackRock and State Pension Funds Invest in Strategy
Despite some skepticism about the sustainability of Strategy’s aggressive Bitcoin acquisitions, major institutional investors continue to back the company.
For instance, BlackRock, the world’s largest asset manager with $11.6 trillion in assets, recently increased its stake in Strategy to 5%, demonstrating confidence in Saylor’s Bitcoin-centric vision. Furthermore, 12 U.S. state pension funds, including those from California, Texas, Florida, and Illinois, have exposure to Strategy stock. California’s State Teachers’ Retirement Fund alone holds nearly $83 million worth of Strategy shares.
Bitcoin Price Impact and Market Sentiment
Every time Strategy announces a large Bitcoin purchase, it often leads to short-term price surges due to increased demand and positive market sentiment. Given the current Bitcoin price of $82,972 as of March 2025, and Strategy’s BTC yield of 6.9% YTD, the company is positioned to benefit from further appreciation.
Long-Term Goals:
Aiming for a 15% BTC Yield in 2025
Looking ahead, Strategy has set an ambitious BTC yield target of 15% for 2025. This means the firm is not only focused on accumulating Bitcoin but also ensuring its Bitcoin-backed financial strategy generates tangible returns for shareholders.
The Future of Bitcoin as a Corporate Reserve Asset
Michael Saylor’s unwavering commitment to Bitcoin continues to redefine corporate treasury strategies. With institutional investors backing Strategy’s vision and the firm securing billions in additional capital, its Bitcoin accumulation spree is far from over. If Bitcoin continues its bullish trajectory, Strategy’s aggressive investment could pay off massively, potentially setting a precedent for other corporations looking to adopt Bitcoin as a primary reserve asset.
