Michael Saylor: Bitcoin Strategy Adds Roughly $48 Billion to Balance Sheet Compared to Debt

June 20th: MicroStrategy founder Michael Saylor posted on social media this week, reflecting on a speech he gave back in October 2022—when Bitcoin was hovering around $20,000. At the time, the firm held 130,000 BTC valued at roughly $26 billion, and its split-adjusted MSTR stock was trading at about $24. Just weeks later, Bitcoin dropped below $16,000, leaving Strategy’s total debt temporarily larger than its combined Bitcoin and cash reserves (a roughly $3 billion shortfall). By the end of the year, MSTR stock had fallen to around $13. Since then, the team has stayed focused, doubled down on strengthening its fundamentals, and stuck strictly to its core strategy. Over that stretch, they’ve raised more than $60 billion—every dollar put entirely toward accumulating more Bitcoin, adding over 716,000 BTC to their holdings. Today, MicroStrategy’s total Bitcoin and cash reserves sit roughly $48 billion above its total debt. Saylor also thanked everyone who’s believed in the company, stuck with it through market ups and downs, and held that long-term view alongside the team.