Strategy Bitcoin Growth: MicroStrategy’s BPS Surges 25.8% in 2025

MicroStrategy ($MSTR), now Strategy, the world’s largest corporate Bitcoin holder, has once again shown how strongly it is tied to the golden asset. Strategy Bitcoin Per Share (BPS), which measures how much Bitcoin backs each share of the company, has climbed to 199,839 sats (satoshis) as of September 7, 2025. This is the highest level it has ever reached.

Source: X

Steady Growth Over the Years

Back in 2020, each $MSTR-share was supposed to be 56,598 sats. Today, that number has more than tripled. The firm has steadily added more BTC every year, with growth speeding up in recent years. Just this year alone, BPS is up 25.8%, showing how quickly the company is increasing its Bitcoin-base.

Current Market Snapshot

Source: Microstrategy

Its mNAV of 1.47 means stock trades 47% above the value of its BPS value showing investors trust. While with only a small amount of debt (~11% compared to its BTC-value ) and very high trading activity ($2.2 billion traded daily), the firm has a strong financial position.

Market Context: The Asset Positioning

BTC itself is trading at $115,331, almost unchanged today. Even though the coin and $MSTR stocks can be volatile in the short term, the long term performance is clear with its 2,537% return since the coin entry began in 2020. It has outperformed most traditional investments.

Why This Matters

By holding such a huge amount, Microstrategy’s share acts like a mirror of Bitcoin’s performance. Investors who don’t want to buy the asset directly often buy $MSTR shares instead. The company is trading at a small premium above its Bitcoin-value because investors believe in its long term strategy and ability to manage debts safely.

Looking ahead, if BTC continues to rise towards the 2028 halving event, analysts believe Strategy’s BPS could cross 250,000 sats per share in the next year. That would further strengthen its position as the leading company for the coin exposure in traditional stock markets.