Strategy Buys Almost $2 Billion More Bitcoin, Holding Nears 500,000 Bitcoin
Business intelligence and bitcoin treasury firm Strategy (formerly MicroStrategy) announced Monday that it has further increased its bitcoin holdings, acquiring nearly $2 billion worth of the cryptocurrency.
In a regulatory filing, Strategy disclosed it had purchased 20,356 additional bitcoin at an average price of $97,514. The acquisition, funded through a zero-coupon convertible note offering, boosts the company’s total bitcoin reserves to 499,096.
With this latest buy, Strategy now holds over 2.3% of bitcoin’s fully diluted supply, which is capped at about 21 million. According to BitcoinTreasuries, only BlackRock’s iShares Bitcoin Trust (IBIT) holds a larger share, accounting for nearly 2.8% of all existing bitcoin.
KEYPOINTS:
- Strategy (formerly MicroStrategy) purchased nearly $2 billion worth of bitcoin, increasing its treasury.
- The company now holds 499,096 bitcoin, accounting for around 2.3% of the total bitcoin supply.
- Strategy has acquired bitcoin almost every week since November, using debt and equity offerings.
- This recent purchase is the largest since Dec. 9, continuing the company’s aggressive accumulation strategy.
- Despite the growth in market cap, skeptics question the long-term sustainability of Strategy’s bitcoin-focused approach.
- Strategy shares were down 4% Monday, though they remain up more than 300% over the past 12 months.
Largest Bitcoin Purchase Since Early December
Over the weekend, Strategy Executive Chairman Michael Saylor hinted at the latest bitcoin purchase on X, as he has done in the past.
Strategy has announced new bitcoin acquisitions nearly every week since November, with this week’s being the largest since December 9.
The company has been using a mix of debt and equity offerings to fund its aggressive bitcoin accumulation strategy. While this approach has significantly boosted Strategy’s market cap in recent years, many skeptics question its long-term sustainability.
As of late Monday trading, Strategy shares were down about 4%, though they remain up over 300% in the past year. Meanwhile, bitcoin was trading around $95,000, still below its record high of approximately $109,000 set last month.