The World's Most Risk-Averse Capital Just Started Buying MSTR Exposure

Welcome to the Bitcoin Balance Sheet. Each Monday, we recap last week's key developments and share our publication's leading stories.

Last week was packed with major developments — from the President of the United States disclosing Strategy (MSTR) holdings, to multiple sovereign pension funds increasing their Bitcoin exposure, and a lot more in between. Let's break it down.

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Strategy Crosses 4% of Total Bitcoin Supply

Michael Saylor just made history today, Strategy announced that they purchased an additional 24,869 BTC worth over $2 billion, bringing the company's total holdings to 843,738 BTC, over 4% of the entire bitcoin supply, and the first company ever to cross that threshold.

This latest buy follows last week's massive volumes in STRC. We had estimated they would purchase around 25,128 BTC using STRC proceeds, and the actual figure came in remarkably close — with roughly 95% of today's buy funded directly from STRC.

It's another data point validating Saylor's new playbook: relying less on MSTR common stock to fund bitcoin purchases, and instead leaning on STRC, which has seen explosive growth while avoiding dilution for common shareholders.

Strive launches the world's first daily-dividend stock

Strive also had a landmark week. announcing that SATA will become the world's first daily-dividend stock, and the company also confirmed it is now officially debt-free after paying off all outstanding obligations. To cap things off, Strive had the honor of ringing the bell at the Nasdaq last week.

SATA, which pays a 13% yield, had been rumored to follow Strategy's lead with a semi-monthly distribution schedule. To everyone's surprise, Strive announced that the Nasdaq has approved daily dividend payments a first not just in Bitcoin, but in all of finance.

Daily payouts begin on June 16, 2026.

President Trump discloses MSTR holdings

In his required financial disclosures last week, President Trump revealed that he personally owns between $50,000 and $100,000 worth of MSTR. The exact share count isn't clear, and he didn't disclose any direct bitcoin holdings — but he also reported owning MARA stock. So the president, who has been relatively quiet on bitcoin recently, clearly still has personal exposure to the space.

The Trump family's bitcoin footprint also grew on the corporate side. American Bitcoin, the mining company tied to Eric Trump, announced it had added 200 BTC to its treasury, bringing total direct holdings to 7,500 BTC.

Nation-state adoption keeps accelerating

Sovereign exposure to Bitcoin via MSTR continued to grow last week, with several countries adding to existing positions or buying in for the first time.

South Korea's National Pension Service disclosed it bought more than $37.2 million in additional MSTR shares, bringing its total holdings to nearly $150 million.

Pension funds from Norway, Sweden, and Finland also reported new and increased exposure — with some of them buying in for the first time. Almost every Nordic country now has some form of Bitcoin exposure through MSTR, something many observers thought would take far longer given the region's traditionally conservative investment approach.

In Sweden and Norway, the buyers were government-owned pension funds. In Finland, it was the country's second-largest pension fund not government-owned, but still a major pillar of the Finnish pension system. Either way, it points to clearly growing institutional interest.

A look at the leaderboard

Corporate Bitcoin accumulation surged this week, headlined by Strategy's record-setting buy and steady flows from both established players and smaller international names keeping the treasury momentum intact.

Strategy led the way by a wide margin, adding 24,869 BTC and pushing its total to 843,738 BTC. American Bitcoin, the Eric Trump–affiliated miner, came in second with a 200 BTC purchase, bringing its treasury to 7,500 BTC. Capital B continued its steady accumulation, adding 192 BTC to reach 3,135 BTC, while The Smarter Web Company stacked a combined 35 BTC across two purchases to reach 2,840 BTC.

Smaller but consistent additions came from:

• OranjeBTC +5 BTC → 3,732 BTC

• LQWD Technologies +5 BTC → 267 BTC

• West Main Self Storage +9.67 BTC → 14.36 BTC (following its $1.6M raise)

On the sell side, MARA Holdings was the largest seller, offloading 3,386 BTC in Q1 and now holding 35,303 BTC.

Special thanks to our partners:

• AnchorWatch. AnchorWatch makes Bitcoin ownership safer and easier by combining advanced custody expertise with industry-grade insurance. As a Lloyd’s of London Coverholder, it writes specialized policies that address digital-asset risks, giving clients trusted coverage and peace of mind. Learn more: AnchorWatch

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• Coinkite. Coinkite is a leader in security and hardware manufacturing and the maker of some of the most iconic Bitcoin products, such as OPENDIME, COLDCARD, BLOCKCLOCK, SATSCARD, TAPSIGNER and SATSCHIP. Learn more: Coinkite

• Cryptio. Cryptio is an enterprise-grade accounting software platform built specifically for digital assets and cryptocurrencies. It enables businesses to transform blockchain transaction data from multiple exchanges and custodians into auditable financial records, supporting compliance with GAAP and IFRS standards. Learn more: Cryptio

• The Hemisphere Foundation. Hemisphere develops open-source solutions designed to help treasury teams securely manage, deploy, and optimize their BTC holdings, with benefits of self-custody and Bitcoin native deployment. Learn more: The Hemisphere Foundation

• Orange Wheel Advisors. Orange Wheel Advisors is a strategic consulting firm that helps companies navigate Bitcoin’s impact on corporate finance and competitive strategy. With expertise spanning treasury management, payments, capital structure, mining, and investor communications, they provide executive education, tailored strategies, and execution support to guide businesses through the global monetary transition. Learn more: Orange Wheel Advisors

• o21 Solutions. o21 develops and implements Bitcoin-powered corporate strategy, transforming value chains with strategic expertise and tailored advisory services, with a focus on both Treasury and Operations - balance sheet accumulation, mining, and payments. Reduce cycle time through the corporate Bitcoin adoption journey through our pre-packaged or tailored engagements. Learn more: o21 Solutions

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• XCE. An executive recruitment group that combines a profitable recruitment business with a Bitcoin treasury strategy. The company turns over a decade of executive recruitment experience and four years of Bitcoin accumulation into a public Bitcoin‑powered growth engine, using a proven operating business to drive Bitcoin treasury accumulation. Learn more: XCE

• Zaprite. Zaprite is a non-custodial payment platform that allows individuals and businesses to seamlessly accept both bitcoin (on-chain and lightning) and fiat payments in a unified, customizable checkout experience. Users can easily issue invoices, generate payment links, and connect multiple wallets or custodial accounts, all while handling their own funds directly. Learn more: Zaprite