Bitcoin-Fueled Growth Pushes Strategy Into 11th Spot for Largest U.S. Corporate Treasury

Strategy Nears $65 Billion in Bitcoin Holdings, Ranks 11th Among U.S. Corporate Treasuries

Strategy (MSTR) has amassed close to $65 billion in bitcoin, making its treasury one of the largest among U.S. corporations—comparable to the cash reserves held by some of the country’s biggest companies.

In its latest investor presentation for the STRD at-the-market equity program, Strategy compared its bitcoin holdings to traditional corporate cash balances. Berkshire Hathaway leads with $410 billion in cash and equivalents, followed by NVIDIA (NVDA) at $66 billion.

The company is on track to reach its 2025 targets, reporting a bitcoin yield of 19.7%, nearing its 25% goal, alongside bitcoin gains of $9.6 billion out of a $15 billion target. During the second quarter, Strategy recorded an unrealized $14 billion gain on its bitcoin assets.

Strategy’s preferred shares have outperformed the iShares Preferred and Income Securities ETF (PFF), a key benchmark. Since their debut, STRK shares have climbed 51%, compared to a 3% drop in PFF. STRF gained 38%, while STRD rose 12%, both surpassing PFF’s modest gains.

As part of its $42 billion fundraising plan, Strategy has raised $23.9 billion to date and still has $34.1 billion available in fixed-income issuance capacity.