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If Strategy bought Target instead of Bitcoin…
$92.9B↑ vs $64.4B BTC value
Total invested
$63.7B
118 transactions
TGT value today
$92.9B
+45.9% return
BTC value today
$64.4B
+1.2% return
TGT outperformed by
+$28.5B
+45% more return on capital
Bitcoin (actual)
TGT (hypothetical, total return)
Quietly working in the background
Dividends earned along the way
TGT paid 25 dividends over this period
Cash dividends paid
$4.0B
before reinvestment
Compounded reinvested value
$5.6B
↑ $1.6B from reinvestment
Share of TGT's total return
6.0%
rest is price appreciation
Where TGT's $92.9B value comes from
total return = price + dividends
Price appreciation · $87.3B
Dividends · $5.6B
Price-only return
Reinvested dividends (compounded at ex-date avg price)
TGT's lead over Bitcoin is largely price appreciation. $4.0B in dividends were reinvested along the way, compounding into the total.
Per-transaction breakdown
Showing 10 most recent of 118 transactions
Transaction dateAmountBTC value nowTGT value now
Aug 10, 2026Sale$109M$109M$109M
Aug 3, 2026Sale$105M$105M$105M
Jul 6, 2026Sale$135M$135M$135M
Jun 30, 2026Sale$81M$81M$81M
Jun 22, 2026$35M$40M$43M
Jun 15, 2026$100M$122M$118M
Jun 8, 2026$101M$119M$132M
Jun 1, 2026Sale$2M$2M$2M
May 18, 2026$2.0B$1.9B$2.6B
May 11, 2026$43M$41M$57M

TGT value includes reinvested dividends. Splits are silently adjusted. Saylor often makes multiple purchases per month — each is its own row. See methodology.