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MicroStrategy, the world’s largest corporate holder of Bitcoin, has accelerated its acquisition of the world’s leading cryptocurrency, fueling speculation about how quickly it will reach its next major milestone.
On Polymarket, more than $468,000 has been wagered on whether MicroStrategy can reach 500,000 BTC before March. Although trading on Polymarket is restricted for U.S. users, crypto bettors estimate a 61% chance that the company will achieve this target before March 2025.
The firm currently holds 471,107 Bitcoin or 2.2% of the world’s total Bitcoin supply. Its total Bitcoin holdings are valued at $49.3 billion today.
If MicroStrategy reaches 500,000 BTC, its ownership of Bitcoin’s total supply will rise to 2.38%, based on Bitcoin’s fixed cap of 21 million coins.
Earlier this week, the company bought 10,107 Bitcoin, valued at $1.1 billion. The move comes as the Trump administration is rapidly shifting the regulatory environment around digital assets in the U.S., and looking to potentially create a national bitcoin stockpile.
Last month, MicroStrategy broke into the Nasdaq-100, an index of the top 100 non-financial
firms in America. MicroStrategy’s inclusion enables more Americans to gain exposure to bitcoin without directly buying the crypto, given that ETFs (exchange-traded funds) like Invesco QQQ are now including the company’s stock in its holdings.
MicroStrategy’s stock is currently trading around $334 at the time of writing.
MicroStrategy’s growing mainstream presence has drawn attention to its unorthodox approach to Bitcoin accumulation.
"Unlike other vehicles that offer Bitcoin exposure (e.g. Bitcoin ETFs or Bitcoin itself), [MicroStrategy] can increase its Bitcoin per diluted share," Mizuho Securities wrote recently. "Its existence as an operating company allows it to access debt and equity capital markets to raise money to purchase more Bitcoin."
This month, the company unveiled a perpetual preferred stock offering in a bid to raise $2 billion to expand its Bitcoin holdings. By 2027, it plans to secure a total of $42 billion through stocks and debt securities — a major capital-raising move designed to significantly grow MicroStrategy’s Bitcoin treasury.
CEO Michael Saylor has underlined MicroStrategy’s long-term commitment to Bitcoin: “[We] think of ourselves primarily as a Bitcoin Treasury company now,” Saylor told Bloomberg. “So our primary method of generating shareholder value is through our Treasury operations.”
With Trump aiming to be the country’s first “crypto president,” Saylor even expressed a willingness to counsel President Donald Trump on Bitcoin last month. “I’m always willing to provide a thought on constructive digital asset policy, either in confidence or publicly,” Saylor told Bloomberg. “And if I’m asked to serve on some sort of Digital Assets Advisory Council, I probably would.”