Strategy has bought up 3% of all bitcoins. What could possibly go wrong?

Strategy, the world's largest public holder of bitcoins, continued to accumulate them last week - after the cryptocurrency's price topped $122,000 for the first time on July 14. The company now owns 3% of all bitcoins, a stockpile valued at about $72 billion. 

Last week, Strategy (formerly MicroStrategy) acquired 6,220 bitcoins for $739.8 million, said X CEO Michael Saylor. As a result, the company's reserves grew to 607.77k tokens - that's about 3.05% of the roughly 19.9 million coins already issued.

According to Bloomberg's calculations, such a package is now worth about $72 billion. Strategy has spent about $43.6 billion on it - at an average price of $71,600, writes Cointelegraph.

Last week, the company purchased bitcoins at an average of $118.94k. According to data from CoinGecko, the largest cryptocurrency started the week at an all-time high above $122k, then fell to an intra-week low of $116k before eventually stabilizing at $118k.

Including the latest purchases, the yield on Strategy's bitcoin portfolio has risen another 0.6pc since the start of 2025. - from 20.2% the previous week to 20.8%, the head of the company reported. Strategy is just 4.2pc away from its 2025 yield target of 25%. At the same time, the company initially counted for an annualized return of 15%. В 2024 году вложения в биткоин принесли ей 74,3%.

Strategy began actively buying up cryptocurrency in 2020 as a core component of its investment strategy. Since then, the company's shares have risen by more than 3,500%. Bitcoin has gained 1,100% in value over that period, and the benchmark U.S. stock index S&P 500, by comparison, has added 120%, notes Bloomberg.

Сегодня основная инвестиционная идея в биткоине — это его роль макроэкономического хеджа, объясняет агентство. Investors see it as a way to protect portfolios against global economic volatility, unexpected decisions by authorities and inflation that devalues traditional currencies. Asset managers including BlackRock and Fidelity offer bitcoin ETFs - giving investors access to the cryptocurrency through familiar exchange-traded instruments. Bitcoin supporters hope that the arrival of institutionalization will reduce its volatility: when retail investors start to panic and sell, large funds will be able to hold the price. 

But the paradox is that Wall Street's biggest banks are simultaneously promoting bitcoin and publicly criticizing it, writes Bloomberg. JPMorgan CEO Jamie Dimon called it a "bloated fraud" and said he would shut down the crypto industry if he could. At an investor day in May, Dimon emphasized: he's still "not a fan". Nevertheless, his bank accepts bitcoin-ETF securities as collateral for loans. On Tuesday, the Financial Times wrote that JPMorgan  was considering making loans secured by its clients' cryptocurrency assets, such as bitcoin and ether. And as Wall Street increasingly ventures into the field, the contradiction between enthusiasm and trepidation is becoming harder to ignore. According to one of the FT's interlocutors, Dimon's criticism has already alienated some potential clients who believe in the potential of crypto assets. 

Bitcoin, recently considered a purely speculative asset, is now embedded in the portfolios of investment funds and credit systems of major banks. If there is another collapse - like the sharp correction of 2022 - the consequences will affect not only cryptocurrency companies and brave retail investors. Not only Strategy, but also other publicly traded institutional players that were previously protected from cryptocurrency-related, Warns Bloomberg.

This article was AI-translated and verified by a human editor