According to the source, a social post claims MicroStrategy holds 63% of the BTC held by corporate Bitcoin treasuries, but no primary dataset is cited and this proportion cannot be independently verified here. Source: X post dated 2025-09-20. Verified filings show MicroStrategy is the largest corporate holder of BTC, with holdings exceeding 200,000 BTC in 2024. Source: MicroStrategy investor relations and 2024 SEC Form 10-Q filings. Independent trackers reported total public-company BTC treasuries in the low hundreds of thousands of BTC in 2024, implying MicroStrategy’s share is dominant but date- and methodology-dependent. Source: BitcoinTreasuries.net by BuyBitcoinWorldwide and underlying company reports. For trading, concentration risk can tighten circulating supply and amplify BTC volatility, while MSTR has historically traded as a high-beta proxy to BTC that traders use for directional exposure or hedging. Source: Nasdaq historical price data for MSTR and Coin Metrics BTC price series (2023–2024). Actionables: confirm the latest MicroStrategy BTC balance via its investor updates, cross-check aggregate corporate holdings from primary filings, and monitor US spot BTC ETF net flows to gauge incremental demand that can offset or compound treasury concentration. Sources: MicroStrategy investor relations; SEC EDGAR; iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund daily flow disclosures.

According to @saylor, Strategy acquired 525 BTC for approximately $60.2 million at about $114,562 per BTC and reports a 25.9% BTC Yield year-to-date in 2025, indicating continued corporate accumulation of BTC (source: @saylor on X, 2025-09-15 https://twitter.com/saylor/status/1967559553090003246; source: Strategy press link https://www.strategy.com/press/strategy-acquires-525-btc-and-now-holds-638985-btc_09-15-2025). As of 2025-09-14, Strategy holds 638,985 BTC acquired for roughly $47.23 billion at an average cost of about $73,913 per BTC, providing a clear reference cost basis for treasury-linked BTC exposure (source: @saylor on X, 2025-09-15 https://twitter.com/saylor/status/1967559553090003246; source: Strategy press link https://www.strategy.com/press/strategy-acquires-525-btc-and-now-holds-638985-btc_09-15-2025). Using the disclosed acquisition price of $114,562 as a reference, the implied mark-to-price value of the total 638,985 BTC would be approximately $73.20 billion, with an uplift of about $26.0 billion over the stated $47.23 billion cost basis, based on calculations from the figures provided (source: figures from @saylor on X, 2025-09-15 https://twitter.com/saylor/status/1967559553090003246). The new purchase price is about 55% above the average cost basis of $73,913, and the 525 BTC increment increases holdings by roughly 0.08%, which may be used by traders as a corporate accumulation benchmark level and scale context for flow analysis (source: figures from @saylor on X, 2025-09-15 https://twitter.com/saylor/status/1967559553090003246). The post also tags tickers $MSTR, $STRC, $STRK, $STRF, and $STRD, highlighting instruments equity and token traders might monitor alongside BTC spot moves (source: @saylor on X, 2025-09-15 https://twitter.com/saylor/status/1967559553090003246).

According to @GreeksLive, MicroStrategy was not included in the latest S&P 500 rebalancing announcement, which could affect institutional Bitcoin exposure tied to BTC-related proxies such as MSTR, source: @GreeksLive. The S&P changes take effect on September 19, 2025, and may create event-driven trading opportunities around Bitcoin-related assets and MSTR into the rebalance window, source: @GreeksLive. Community traders report wide spreads in call options that make premium selling strategies hard to execute effectively, highlighting execution challenges, source: @GreeksLive. Overall sentiment is mixed with limited trading activity, and put positions are under pressure following recent market moves, source: @GreeksLive.

According to @rogerhamilton, Michael Saylor’s keynote explains how and why MSTR has outperformed BTC and other assets on an annualized basis, with a link to the talk shared in his post. Source: @rogerhamilton on X, Sep 8, 2025. He states that Metaplanet followed the same strategy in Japan and suggests Genius could apply the strategy in Southeast Asia. Source: @rogerhamilton on X, Sep 8, 2025. His post frames corporate Bitcoin treasury strategy as a driver of equity performance relative to spot BTC, highlighting MSTR, Metaplanet, and potential Southeast Asia implementations for traders to monitor. Source: @rogerhamilton on X, Sep 8, 2025.

According to @rogerhamilton, a high-octane day focused on the future of BTC treasury companies featured a keynote by @saylor (source: @rogerhamilton on X, Sep 8, 2025). The post explicitly tags BTC along with tickers GNS and MSTR, indicating these were associated with the event in the source post (source: @rogerhamilton on X, Sep 8, 2025). The message conveys a bullish tone using the phrases the future is bright and the future is orange, signaling optimistic sentiment toward BTC and the referenced tickers (source: @rogerhamilton on X, Sep 8, 2025).

According to @rovercrc, Michael Saylor hinted at a potential S&P 500 inclusion for MicroStrategy (MSTR) in a post on X. Per S&P Dow Jones Indices’ S&P U.S. Indices Methodology, S&P 500 additions are determined by the Index Committee and only take effect after an official S&P DJI announcement. S&P Dow Jones Indices states that eligibility includes market capitalization, liquidity, public float thresholds, U.S. domicile, and a record of positive GAAP earnings over recent quarters. According to MicroStrategy’s annual report, Bitcoin is the company’s primary treasury reserve asset, linking MSTR’s fundamentals to BTC on its balance sheet. If inclusion occurs, index-tracking funds replicate changes by purchasing the added stock, per S&P Dow Jones Indices’ index implementation practices, which would extend indirect BTC exposure into those passive portfolios given MicroStrategy’s disclosed Bitcoin strategy. Traders should await confirmation via S&P Dow Jones Indices’ official index announcements and MicroStrategy’s investor relations disclosures before positioning, per S&P Dow Jones Indices’ communications on index changes and MicroStrategy’s reporting practices.

According to @EricBalchunas, MicroStrategy ($MSTR) was not admitted to the S&P 500 despite meeting criteria because the S&P Index Committee declined the addition (source: Eric Balchunas on X, Sep 5, 2025). The S&P Dow Jones Indices methodology confirms the S&P 500 is selected by a committee with discretion to deviate from mechanical rules, effectively making SPX an actively chosen basket within stated guidelines (source: S&P Dow Jones Indices, S&P U.S. Indices Methodology). Without inclusion, S&P 500 index-tracking funds will not purchase MSTR as part of routine rebalancing, limiting automatic passive inflows relative to an inclusion scenario (source: SPDR S&P 500 ETF Trust SPY, iShares Core S&P 500 ETF IVV, and Vanguard S&P 500 ETF VOO prospectuses). S&P Dow Jones Indices notes that trillions of dollars are indexed or benchmarked to the S&P 500, so committee decisions can materially influence demand and liquidity for would-be constituents (source: S&P Dow Jones Indices, S&P 500 benchmarked assets disclosures). Given MicroStrategy states it holds bitcoin as a primary treasury reserve asset, traders often treat MSTR as a high-beta proxy for BTC; exclusion means SPX-linked passive portfolios will not gain that direct BTC-sensitive exposure via MSTR (source: MicroStrategy Form 10-K and investor relations; S&P Dow Jones Indices methodology).

According to @EricBalchunas, MicroStrategy (MSTR) did not receive the anticipated inclusion, and the stock is down about 2% intraday (source: Eric Balchunas on X, Sep 5, 2025). No additional details on what inclusion refers to were provided in the post, limiting visibility into the driver beyond the immediate price reaction (source: Eric Balchunas on X, Sep 5, 2025).

According to @FarsideUK, the S&P 500 index inclusion decision for MicroStrategy (MSTR) is negative, indicating the stock will not be added at this time (source: @FarsideUK on X, Sep 5, 2025). According to S&P Dow Jones Indices methodology, only S&P 500 constituents are mechanically purchased by index-tracking funds during rebalances, so non-inclusion implies no immediate passive buying from S&P 500 trackers (source: S&P Dow Jones Indices Index Methodology). According to MicroStrategy’s public disclosures, the company holds substantial bitcoin as its primary treasury reserve asset, making MSTR a common BTC proxy among some investors, so the removal of an index-inclusion catalyst keeps near-term trading more sensitive to BTC price and company-specific flows (source: MicroStrategy investor relations and SEC filings). For traders, this setup tilts focus to BTC correlation, liquidity, and any further corporate balance-sheet updates rather than index-driven demand (sources: @FarsideUK; S&P Dow Jones Indices; MicroStrategy IR).

According to @Andre_Dragosch, $MSTR is among the top two companies currently eligible for an index addition today, and he would be surprised if it is not added. Source: Andre Dragosch on X, Sep 5, 2025. He cited a chart by @JSeyff to support the eligibility ranking. Source: Chart via @JSeyff as referenced by Andre Dragosch on X, Sep 5, 2025. If an addition is confirmed, index changes typically trigger passive fund buying and rebalance-related flows that can impact short-term price, volume, and spreads for the added stock. Source: S&P Dow Jones Indices research on index rebalancing effects. MicroStrategy holds a large amount of Bitcoin on its balance sheet, and the company discloses that Bitcoin price fluctuations can materially affect its stock price, linking MSTR performance to BTC conditions during such events. Source: MicroStrategy Investor Relations disclosures and Form 10-K risk factors.

According to @smtgpt, he publicly congratulated Michael Saylor and MicroStrategy for advancing the global crypto movement, signaling supportive executive sentiment toward Bitcoin adoption that traders often monitor alongside BTC and MSTR price action; source: X post by @smtgpt on 2025-09-04 https://twitter.com/smtgpt/status/1963630671122862115. According to @smtgpt, he also expressed a hope to see Indian companies included in the Nifty50, drawing attention to the intersection of India’s equity benchmarks and crypto industry engagement relevant to market sentiment; source: X post by @smtgpt on 2025-09-04 https://twitter.com/smtgpt/status/1963630671122862115.

According to @Andre_Dragosch, BitMine (BMNR) is trading at a relative multiple of 1.08 versus 1.38 for MicroStrategy (MSTR), highlighting a valuation gap between the two bitcoin-proxy equities. Source: @Andre_Dragosch (X, Sep 3, 2025). He adds this is despite a recent market rotation and BTC underperforming ETH, indicating MSTR still commands a higher relative premium than BMNR. Source: @Andre_Dragosch (X, Sep 3, 2025).

According to @saylor, Strategy acquired 4,048 BTC for approximately $449.3 million at about $110,981 per BTC and reports a 25.7% BTC yield year-to-date 2025, source: @saylor. According to @saylor, total BTC holdings now stand at 636,505 BTC acquired for roughly $46.95 billion with an average cost basis of about $73,765 per BTC, source: @saylor. Based on these figures, the latest purchase is about 0.64% of the stated holdings and the new buy price is roughly 50.5% above the reported average cost basis, calculated from @saylor figures, source: @saylor. The post also lists the tickers $MSTR, $STRC, $STRK, $STRF, and $STRD, source: @saylor. Using the 21,000,000 BTC maximum supply, the stated 636,505 BTC equals about 3.03% of the cap, calculated from @saylor figures and the Bitcoin supply cap described in Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto, sources: @saylor and Satoshi Nakamoto.

According to the source, MicroStrategy (MSTR) could be added to the S&P 500 as early as Friday, potentially triggering immediate benchmark-tracking purchases by passive index funds. According to S&P Dow Jones Indices methodology, index-tracking funds replicate new constituents at the effective date to minimize tracking error. According to MicroStrategy’s public disclosures, the company holds substantial Bitcoin on its balance sheet, meaning inclusion-driven MSTR demand would translate into indirect BTC exposure across benchmarked portfolios. According to the source, this setup represents a significant step for Bitcoin’s integration into traditional equity indices and a potential trading catalyst around the inclusion window.

According to Cas Abbé, MicroStrategy has outperformed Nvidia, GameStop, and the broader U.S. stock universe since 2020 due to its continuous Bitcoin accumulation strategy, source: Cas Abbé on X. MicroStrategy adopted a Bitcoin treasury strategy in 2020 and has continued to add BTC over time as part of its corporate policy, funded in part through equity and convertible debt transactions, source: MicroStrategy SEC filings and investor relations. This balance-sheet positioning directly links MSTR’s equity performance to BTC’s spot price and volatility, effectively making the stock a high-beta proxy for Bitcoin exposure, source: MicroStrategy investor materials and SEC filings. Accounting treatment for corporate crypto holdings improved with FASB ASU 2023-08 requiring fair-value measurement for crypto assets for fiscal years beginning in 2025, increasing earnings transparency tied to BTC price moves for firms like MicroStrategy, source: Financial Accounting Standards Board. Trading takeaway: monitor BTC price trend and U.S. spot Bitcoin ETFs approved in January 2024 as primary drivers, and track MicroStrategy’s financing actions such as at-the-market share issuance and convertible notes that can affect leverage and share float, source: U.S. SEC and MicroStrategy SEC filings.

According to @rovercrc, MicroStrategy (MSTR) is the top-performing large-cap U.S. stock since adopting a Bitcoin standard, based on a chart shared on X on 2025-08-26; source: @rovercrc on X, 2025-08-26 https://twitter.com/rovercrc/status/1960405813119381722. MicroStrategy publicly adopted Bitcoin as its primary treasury reserve asset in 2020, marking the start of its Bitcoin standard strategy; source: MicroStrategy press release, 2020-08-11. MicroStrategy’s annual filing states that the market price of its common stock has been and may continue to be affected by the price of Bitcoin, underscoring the stock’s sensitivity to BTC moves that traders monitor; source: MicroStrategy 2023 Form 10-K, Risk Factors.

According to @saylor, MSTR is the number one performing large-cap U.S. stock out of roughly 1,400 since it adopted a Bitcoin Standard treasury approach, source: Michael Saylor on X on Aug 26, 2025, https://twitter.com/saylor/status/1960404554186424695. For crypto-focused traders, this positions MSTR as a leading BTC-linked equity performance reference relative to large-cap peers, source: Michael Saylor on X on Aug 26, 2025, https://twitter.com/saylor/status/1960404554186424695.

According to @saylor, MicroStrategy (MSTR) adopted a Bitcoin Standard five years ago and has since outperformed every asset class and each Magnificent 7 stock, as stated in his Aug 22, 2025 post (source: @saylor). He also states that traders can track the company’s daily annualized results at Strategy.com, providing an official reference for performance monitoring (source: Strategy.com; @saylor).

According to @adriannewman21, market confidence in the mNAV narrative is being questioned as MSTR and SBET issue equity and underperform their underlying assets, raising doubt about the treasury-company approach to crypto exposure (source: @adriannewman21). According to @adriannewman21, this dilution-driven underperformance challenges the appeal of equity-based crypto proxies and may shift focus to tracking mNAV premiums/discounts versus underlying and the pace of new share issuance (source: @adriannewman21). According to @adriannewman21, traders are reacting to widening performance gaps relative to underlying assets, which can compress valuation multiples for treasury companies and impact BTC proxy trades that rely on tight mNAV alignment (source: @adriannewman21).

According to @Andre_Dragosch, a public company has raised a total of $5.54 billion in preferred equity specifically to purchase Bitcoin (BTC) (source: @Andre_Dragosch). The post highlights tickers MSTR, STRK, STRF, STRD, and STRC as related to this capital raise (source: @Andre_Dragosch). The information was posted on August 15, 2025 (source: @Andre_Dragosch).