MicroStrategy’s 28th Bitcoin buy continues its aggressive BTC accumulation strategy: MSTR is increasing monthly buys, holding 638,460 BTC at a ~$72,350 cost basis, representing roughly $27.2B in unrealized gains—positioning the company to accelerate stacking if equities stay risk-on into Q4.
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MSTR holds 638,460 BTC, cost basis ~$72,350 per coin.
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Monthly BTC purchases average ~3, with 2025 buys pacing ~58% ahead of last year.
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Paper profit on the treasury ≈ $27.2B (≈59% unrealized gain) with macro risk-on flows likely to spur further buys.
Meta description: MicroStrategy Bitcoin buy update — MSTR holds 638,460 BTC, $27B unrealized gains; Q4 stacking could accelerate. Read latest analysis and takeaways.
What is MicroStrategy’s 28th Bitcoin buy and why does it matter?
MicroStrategy’s 28th Bitcoin buy is the latest incremental purchase in the company’s enterprise BTC accumulation program. The move matters because the firm now controls 638,460 BTC at a ~$72,350 cost basis, creating substantial unrealized profits and making MSTR a major corporate Bitcoin holder that can influence market narratives.
How many BTC does MicroStrategy currently hold?
MicroStrategy’s treasury stands at 638,460 BTC. At a cost basis near $72,350 per coin, the company shows roughly $27.23 billion in unrealized profit. This scale turns each incremental buy into a strategic corporate decision with balance-sheet and investor-sentiment implications.
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MSTR’s Bitcoin accumulation marches on despite equity volatility
Macro volatility has pressured the stock but left the Bitcoin stack intact. Last year’s 17 BTC buys helped grow the treasury to 446k BTC; in 2025 the stash has surpassed 638k BTC, reflecting an aggressive accumulation pace.
Equity returns tell a different story: MSTR’s equity has moved significantly off its highs, while the underlying BTC position has appreciated materially in paper terms. This split highlights investor caution on the stock and continued corporate conviction in Bitcoin as a treasury asset.
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Cost-basis math: at ~$72,350 per BTC, the 638,460-coin treasury implies a substantial unrealized gain. That figure supports investor narratives and offers the company optionality: continue accumulating, hold, or consider strategic sales if market conditions change.
Equities have been rallying, led by the Nasdaq, and market pricing for Fed easing is weighing on positioning. If the market continues to front-run rate cuts, risk-on flows could free up liquidity and confidence for MSTR to accelerate monthly BTC purchases—potentially raising 2025 buys close to ~40 transactions.
Technical price action also matters: MSTR rallied from multi-month lows, made a local top, and then consolidated—classic groundwork for a potential re-acceleration if macro tailwinds persist.
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