Business intelligence firm MicroStrategy’s Bitcoin stash has just crossed over $20 billion in value as Bitcoin rallied above $80,000.

MicroStrategy’s 252,200 Bitcoin (BTC) is now worth $20.54 billion — putting the company up over 104% on its Bitcoin investment strategy, according to “Saylor Tracker,” named after the firm’s executive chairman, Michael Saylor.

The Bitcoin stacking firm has bought Bitcoin 42 times at a dollar cost average of $39,292, Bitcoin Treasuries data shows.

MicroStrategy remains the largest corporate holder of Bitcoin by far, followed by Bitcoin miners Marathon Digital and Riot Platforms, which hold $2.1 billion and $840 million worth of Bitcoin, respectively.

MicroStrategy is also looking to raise a monstrous $42 billion over the next three years to stack more Bitcoin under its “21/21” plan — consisting of $21 billion worth of equity and $21 billion in fixed-income securities.

Bitcoin is currently priced at $81,617, an all-time high, according to CoinGecko.

The pump has also benefitted other major Bitcoin holders. 

Bhutan’s Bitcoin holdings have now made it above $1 billion, according to blockchain analytics firm Arkham Intelligence.

Bhutan has been constructing a large-scale Bitcoin mining operation and is seemingly using Bitcoin as a strategic currency reserve.

The country’s Bitcoin holdings account for 32% of its $3.15 billion gross domestic product, according to the International Monetary Fund, citing data from October 2024.

Meanwhile, El Salvador is also reaping the rewards of its Bitcoin investment strategy, with its stash of 5,930 Bitcoin now worth over $482 million, Drop Stab data shows.

The Central American country is up 80% on its Bitcoin investment with nearly $214 million in unrealized profits.

But it hasn’t always been smooth sailing. 

El Salvador started its Bitcoin investment strategy two months before Bitcoin peaked in the 2020-2021 cycle, with widespread media criticism following soon after when the broader market tanked in 2022.

The Nayib Bukele-led country continues to dollar-cost-average into Bitcoin by buying exactly 1 Bitcoin per day.

El Salvador is also stacking Bitcoin through its passport program and revenue from its volcanic Bitcoin mining venture.

Big Questions: How can Bitcoin payments stage a comeback?