5 days ago
Strategy, formerly known arsenic MicroStrategy, has acquired 22,048 further Bitcoin betwixt March 24 and March 30, bringing its full holdings to 528,185 BTC, according to a March 31 filing with the U.S. Securities and Exchange Commission.
The purchase, valued astatine astir $1.92 billion, was executed astatine an mean terms of $86,969 per Bitcoin, including fees and expenses.
Bitcoin began an upward question erstwhile Strategy purchased the caller Bitcoin, followed by a 5.7% summation into the purple transmission below. However, the terms reversed connected Friday, starring to a driblet to $82k. Strategy’s latest Bitcoin acquisition is successful the reddish by implicit $100 cardinal arsenic of property time.
Strategy Bitcoin bargain (Source: TradingView)The acquisition was financed done a operation of caller capital-raising activities. Per the Form 8-K, proceeds were drawn from 3 abstracted instruments: the company’s at-the-market communal banal offering, its ATM preferred banal program (STRK), and a recently completed $711.2 cardinal nationalist offering of 10% Series A Perpetual Strife Preferred Stock (STRF).
These mechanisms align with Strategy’s ongoing multi-channel superior strategy, which has evolved to accommodate its assertive Bitcoin accumulation goals.
The company’s Common ATM raised $1.20 cardinal during the reporting period, portion the STRK ATM contributed $18.52 million. The STRF offering closed connected March 25 astatine $85.00 per share, indicating beardown capitalist appetite for equity instruments tied to the firm’s Bitcoin-focused treasury model.
Holdings Represent 2.55% of Bitcoin’s Circulating Supply
With 528,185 BTC present held, Strategy commands astir 2.55% of Bitcoin’s circulating supply, based connected circulating proviso estimates of astir 20.7 cardinal BTC. The firm’s cumulative concern totals $35.63 cardinal astatine an mean acquisition terms of $67,458 per BTC.
As CryptoSlate reported previously, this vaults Strategy further up of different firm entities successful presumption of BTC exposure, with a stash present approaching fractional of the 1.1 cardinal BTC attributed to Satoshi Nakamoto. The milestone comes aft a bid of consecutive monthly acquisitions successful Q1 2025, ranging from a $243 cardinal acquisition successful aboriginal January to a $1.99 cardinal outlay successful February.
Strategy’s capital-intensive attack is underpinned by an explicit semipermanent imaginativeness for Bitcoin arsenic a treasury reserve asset. As portion of its broader financing strategy, shareholders person authorized an enlargement of the company’s Class A communal banal from 330 cardinal to 10.3 cardinal shares, facilitating ongoing entree to equity markets.
The steadfast besides introduced its 21/21 Plan, aiming to rise $21 cardinal done equity and different $21 cardinal done fixed-income instruments implicit clip to substance aboriginal acquisitions.
This expansionary model allows the institution to support purchasing velocity portion managing indebtedness vulnerability and capitalist dilution. It besides reflects a displacement from opportunistic to programmatic Bitcoin acquisition, integrating superior markets arsenic portion of an operational treasury strategy.
Despite its assertive posture, Strategy has acknowledged imaginable risks successful its filings and capitalist communications. Exposure to Bitcoin’s volatility, shifting regulatory frameworks, and reliance connected some equity and indebtedness issuance contiguous worldly uncertainties.
Nevertheless, CEO Michael Saylor has continued to framework Bitcoin arsenic a long-horizon asset, citing scenarios with bear-case targets of $3 cardinal per coin and bull-case projections exceeding $49 million.
The station Strategy conscionable bought astir $2 cardinal Bitcoin adjacent the section apical of $86k appeared archetypal connected CryptoSlate.
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