Grafa
Strategy buys $2B more Bitcoin
Image for illustrative purposes only. Not a real photo.

Strategy buys $2B more Bitcoin

Share

Strategy acquired 24,869 Bitcoin for approximately $2.01 billion between May 11 and 17 as the company continued expanding its position as the world’s largest public Bitcoin holder.

According to a filing with the US Securities and Exchange Commission, the purchases were completed at an average price of $80,985 per Bitcoin, raising Strategy’s overall Bitcoin cost basis to roughly $75,700.

The company now holds 843,738 BTC acquired for about $63.87 billion, with the position valued at approximately $65.3 billion based on current market prices.

Strategy funded nearly 97% of the latest acquisition through sales of its STRC perpetual preferred stock, raising around $1.95 billion from the sale of roughly 19.5 million shares.

The company also generated about $83.7 million through sales of 430,344 shares of its Class A common stock, listed under the ticker MSTR.

The latest acquisition further widened Strategy’s lead over BlackRock, which currently holds around 817,000 Bitcoin on behalf of clients through its investment products.

The purchase followed comments from Michael Saylor during the company’s recent earnings call suggesting that an inflexible “never sell” Bitcoin strategy could eventually undermine the long-term value preservation goals behind the firm’s holdings.

At the time of reporting, Bitcoin price was $76,822.47.

Frequently asked questions

Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relate to your unique circumstances.

Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of or reliance on the information provided directly or indirectly, by use of this platform.