Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, has blasted past 800,000 BTC in total holdings after announcing its latest purchases.
Strategy acquired 34,164 Bitcoin for $2.54 billion between April 13 and 19, according to an 8-K filing with the US Securities and Exchange Commission on Monday.
As Helen Partz reports for CoinTelegraph.com, the buy ranks as Strategy’s third-largest Bitcoin acquisition on record by coin count, behind purchases of 55,500 BTC and 51,780 BTC in November 2024.
Holding around 780,897 BTC after a $1 billion purchase just a week ago, the company now holds 815,061 BTC, purchased for $61.56 billion.
Source: SEC
The new acquisition was made at an average price of $74,395 per coin, slightly below the company’s average acquisition price of $75,527.
Strategy’s STRC funds more than 85% of the purchase
Similar to a few recent acquisitions, the majority of Strategy’s latest purchase has been funded through Stretch (STRC), the company's perpetual preferred security.
According to the filing, STRC generated $2.18 billion, or about 85.7% of total proceeds, while sales of Class A common stock (MSTR) contributed $366 million.
Source: SEC
Last week marked several new records for STRC, including the company’s largest single-day buying spree through its at-the-market, or ATM, program.
On April 13, STRC set a new estimated daily record of about 7,741 BTC, based on the sale of 11.9 million shares through its at-the-market, or ATM, program, generating more than $1 billion in trading volume, according to STRC Live.
The stock set another record the following day, with an estimated 9,364 BTC tied to 14.4 million shares sold through its at-the-market, or ATM, program. The two days combined brought an estimated 17,204 BTC, marking a 518% surge versus the four-week average.
Strategy co-founder Saylor had teased the purchase on Sunday, signaling another large bitcoin acquisition ahead of the announcement. The company also disclosed on Friday plans to pay STRC dividends twice monthly.
“If we were to move forward with paying STRC semi-monthly, we would be in category one, the only preferred in the world that pays semi-monthly dividends. We think this is unique and attractive,” Strategy CEO Phong Le said.
Market-Cap/NAV Nears 1 Again...
Finally, recent gains for Strategy stock have lifted its market cap above $54 billion...
Pushing it closer and closer back towards its net asset value (value of BTC holdings).
For many, a shift for Market-Cap/NAV back above 1 is the greenlight for stability and a sustained recovery in MSTR's stock.