Strategy's Michael Saylor signals Bitcoin buying spree restart
Strategy's Michael Saylor signals Bitcoin buying spree restart
In a recent development that signals renewed confidence in Bitcoin, Strategy—formerly known as MicroStrategy—appears poised to resume its aggressive Bitcoin buying spree.
Key Takeaways
- Strategy, formerly MicroStrategy, plans to resume its aggressive Bitcoin buying spree after a one-week pause.
- On Feb. 10, Strategy bought 7,633 BTC for over $742 million, raising total holdings to 478,740 BTC, now valued at over $46B.
- The company is advancing its 21/21 plan using "intelligent leverage" in Q1 2025 and announced a $2B convertible note tranche on Feb. 20 to fund further purchases.
Co-founder Michael Saylor recently shared a Bitcoin chart that hints at an impending acquisition after a one-week pause in purchasing. This follows the company’s latest acquisition on Feb. 10, when it bought 7,633 BTC for over $742 million, pushing its total holdings to 478,740 BTC. According to SaylorTracker, these holdings are now valued at over $46 billion, reflecting a 47.7% gain on the company’s investment.
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The company continues to advance its ambitious 21/21 plan, which outlines its strategy to purchase more Bitcoin using “intelligent leverage” in Q1 2025. To support further acquisitions, Strategy announced on Feb. 20 the pricing of a $2 billion convertible note tranche. This financial move is designed to provide additional capital for Bitcoin purchases while creating more value for common shareholders.
Institutional and State-Level support
Despite concerns about the sustainability of such a high-frequency acquisition strategy, institutional backing remains strong. On Feb. 6, a Securities and Exchange Commission filing revealed that BlackRock—the world’s largest asset manager with over $11.6 trillion in assets under management—increased its stake in Strategy to 5%. This development came just a day after the company rebranded and adopted a Bitcoin-themed marketing scheme, underscoring its renewed focus on digital assets.
In addition to institutional investors, state-level involvement further solidifies Strategy’s position. Currently, 12 U.S. states hold Strategy stock through their pension programs or treasury funds. Notably, California’s State Teachers’ Retirement Fund holds nearly $83 million in Strategy shares, while the California Public Employees Retirement System holds approximately $76.7 million.
12 U.S. state pension programs and treasury funds with exposure to Strategy. Source: Julian Fahrer
As Strategy prepares to leverage new capital to drive its Bitcoin accumulation, the market will keenly watch its next steps. The success of this strategy could redefine corporate investment in Bitcoin and influence broader institutional adoption trends.
