Strategy, formerly known as MicroStrategy, acquired 15,355 Bitcoin worth $1.4 billion last week, unveiling its third largest purchase of the asset so far this year, the company announced Monday.
The Tysons, Virginia-based Bitcoin treasury now owns around 554,000 worth $52.3 billion based on current prices, according to Securities and Exchange Commission filing. The last time Strategy purchased Bitcoin in such bulk, it spent $1.9 billion worth of Bitcoin in the last week of March.
Strategy’s recent purchase was funded using a mix of sources: 97% of funds stemmed from selling 4 million worth of common shares, while Strategy also raised $37.5 million through the sale of its so-called perpetual “STRK” preferred stock.
In October, Strategy unveiled an ambitious “21/21 Plan,” which involved raising $21 billion through an at-the-money equity offering program and $21 billion by issuing fixed-income securities like STRK. Following Monday’s announcement, Strategy is over halfway done with its three-year roadmap for $42 billion to buy Bitcoin partly using corporate debt.
Strategy has sold around $20.9 billion worth of common shares since it established its at-the-money equity offering program, with $128 million in common shares left for issuance and sale. It can still sell $29.92 worth of STRK shares through a program established in March.
Strategy’s stock price was recently down about 1.2% % to trade at $363 per share, according to Yahoo Finance. As U.S. stocks have partially bounced back from tariff-fueled turmoil, Strategy’s shares have rallied 14.5% over the past week.
Although Strategy has written a playbook for acquiring Bitcoin among corporate entities, the firm is set to face new competition, with Twenty One Capital making its Wall Street-debut last week.
With stablecoin issuer Tether, crypto exchange Bitfinex, and Wall Street titans Cantor Fitzgerald and SoftBank participating in the endeavor, the company plans to “own at least 42,000 Bitcoin” before it starts raising funds, which would make it the third-largest corporate Bitcoin holder.
Edited by James Rubin
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