MicroStrategy (now rebranded as Strategy), a U.S.-based technology company, has been on an aggressive Bitcoin-buying spree since 2020. As of May 31, 2026, the company holds a staggering 843,706 Bitcoins, acquired at a total cost of approximately $63.87 billion. Its investment approach is notably bold: it raises capital by issuing stocks or other financing instruments specifically to purchase Bitcoin. This strategy creates a virtuous cycle—when Bitcoin prices climb, the company’s stock price follows suit, enabling it to secure additional financing to further expand its Bitcoin holdings. However, this approach also exposes it to significant market volatility. In the first quarter of 2026, MicroStrategy reported an unrealized loss of approximately $14.5 billion due to a downturn in Bitcoin prices. Despite this setback, the company remains one of the largest corporate Bitcoin holders globally. In a notable move in May 2026, it conducted its first Bitcoin reduction operation since 2022, selling 32 Bitcoins valued at roughly $2.5 million.