Goldman Sachs buys $386M in Strategy shares, pushing total stake to $558M

Goldman Sachs just made its Bitcoin bet a lot harder to ignore. The bank added $386 million worth of Strategy Inc. shares to its portfolio, bringing its total position in the company formerly known as MicroStrategy to $558 million.

How Goldman is playing the Bitcoin trade

Goldman’s approach here is worth understanding. The bank has not gone out and bought Bitcoin directly. Instead, it has accumulated roughly 2.33 million shares of Strategy Inc., the NASDAQ-listed company that Executive Chairman Michael Saylor has spent years turning into a publicly traded Bitcoin holding vehicle.

Goldman added approximately 237,874 shares in the fourth quarter of 2025 alone, according to 13F filings. Those filings, mandatory disclosures that large institutional investors submit to the SEC each quarter, revealed the scale of the bank’s accumulating conviction.

Strategy funds its Bitcoin purchases primarily through equity offerings and convertible notes, a capital-raising playbook it has run since 2020. When Goldman buys Strategy shares, it is effectively financing that machine, and betting that the machine keeps working.

Why Strategy, why now

Strategy completed a rebranding from MicroStrategy in February 2025, a move that was equal parts marketing and mission statement. The new name strips away any pretense that this is a software company with a side interest in crypto. It is a Bitcoin treasury company, full stop.

Strategy holds more Bitcoin than any other corporation on earth, a title it has defended aggressively through continued purchases. For institutions that want Bitcoin exposure without the custody headaches, regulatory uncertainty around direct holdings, or internal risk committee drama, Strategy stock is the path of least resistance.

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