Strategy buys $1.6 billion in Bitcoin and lifts holdings to 761,000 BTC
Strategy, the world’s largest public holder of Bitcoin, continues to aggressively expand its cryptocurrency reserves. Last week the company purchased 22,337 BTC for approximately $1.57 billion.
The acquisition was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). Following the purchase, Strategy’s total Bitcoin holdings increased to 761,068 BTC. In total, the company has spent around $57.6 billion accumulating the asset.
The Bitcoin was acquired at an average price of $70,194 per coin, which is below the company’s overall average purchase price of roughly $75,696 per BTC. The deal ranks among Strategy’s five largest Bitcoin purchases on record. Just a week earlier, the company acquired 17,994 BTC for $1.28 billion.
How the company is funding its purchases
Part of the latest purchase was financed through the sale of Stretch (STRC) preferred shares. According to the company, 11.9 million STRC shares were sold during the week, generating about $1.18 billion.In addition, Strategy sold 2.8 million Class A shares (MSTR), raising roughly $396 million. Strategy founder Michael Saylor said STRC has become one of the most liquid preferred securities on the market. Notably, U.S. banking giant Citigroup previously reaffirmed its buy rating on Strategy shares.
BTC accumulation strategy
Strategy has been pursuing a strategy of accumulating Bitcoin as its primary reserve asset for several years. Analysts estimate that to reach the milestone of 1 million BTC, the company would need to acquire another 238,932 BTC.If Strategy aims to reach that target by the end of 2026, it would need to purchase roughly 5,700 BTC per week. The company’s aggressive accumulation strategy continues to influence the market, as Strategy remains the largest corporate holder of Bitcoin globally.
Earlier it was reported that Strategy’s STRC shares became the most liquid preferred stock, amid strong demand for Bitcoin-related financial instruments.
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