@wangtiantian
MicroStrategy (rebranded Strategy) in 2026 maintains its aggressive Bitcoin treasury strategy, funding purchases via equity and preferred stock issuances. In early January, it acquired 13,627 BTC for ~$1.25B (avg. $91,519), raising holdings to 687,410 BTC (total cost ~$51.8B).
This model provides leveraged BTC exposure, offering high upside potential if Bitcoin rises (analysts forecast $150K+ by year-end), outperforming direct holdings amid institutional adoption.
Risks include extreme volatility—BTC downturns trigger massive unrealized losses and stock crashes; shareholder dilution from ongoing capital raises; regulatory scrutiny (e.g., past MSCI index threats); and over-dependence on BTC, overshadowing its software business.
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