Strategy disclosed a major Bitcoin purchase in a March 9 filing, adding 17,994 BTC to its balance sheet last week.
Summary
- Strategy purchased 17,994 BTC for $1.28 billion, paying about $70,946 per coin.
- The company’s total bitcoin holdings now stand at 738,731 BTC.
- The purchase was funded mainly through $900 million in common stock sales and $377 million in preferred stock issuance.
The company’s latest filing revealed that the Bitcoin (BTC) was acquired between March 2 and March 8 for about $1.28 billion, with an average purchase price of $70,946 per coin.
Following the purchase, Strategy’s total holdings reached 738,731 BTC, accumulated for roughly $56.04 billion at an average cost of $75,862 per bitcoin.
Stock sales used to fund the purchase
The acquisition was largely financed through equity sales. Strategy sold 6.3 million shares of Class A common stock, generating about $900 million in net proceeds.
The company also issued 3.7 million shares of its Stretch preferred stock (STRC), raising an additional $377 million. Together, the transactions brought in roughly $1.3 billion, which was used to fund the latest bitcoin purchase.
Strategy still has significant room to raise additional capital through its at-the-market programs. The company reported that $6.7 billion remains available for future sales of MSTR shares, along with $20.3 billion tied to its Strike preferred stock (STRK) and $3.2 billion linked to the Stretch preferred series.
Shares of MSTR were slightly higher in pre-market trading following the disclosure.
Long-term Bitcoin strategy continues
Strategy has steadily accumulated Bitcoin since 2020 under the leadership of executive chairman Michael Saylor, who has repeatedly said the company intends to keep buying the asset as part of its long-term treasury strategy.
The firm also updated its Omnibus Sales Agreement with a group of underwriters that includes TD Securities, Barclays Capital, and Morgan Stanley.
The revision allows Strategy to appoint a second sales agent for certain securities during pre-market and after-hours sessions. According to the filing, the change gives the company greater flexibility when executing large transactions outside regular trading hours.
Strategy remains the largest corporate holder of Bitcoin. The company has continued to increase its holdings through a mix of cash reserves, debt offerings, and equity sales.
