Strategy’s commitment to Bitcoin deepens further. The firm just executed another significant purchase, adding substantially to its already massive cryptocurrency reserves last week, signaling continued confidence in the digital asset despite market fluctuations.
Under Executive Chairman Michael Saylor, Strategy transformed its corporate treasury strategy years ago. It aggressively converts cash reserves and raises capital specifically to accumulate Bitcoin, viewing the cryptocurrency as a superior long-term store of value compared to traditional assets.
The latest acquisition involved buying 1,895 BTC for $180.3 million, averaging $95,167 per coin according to a recent regulatory disclosure. Financing for this purchase was secured through the issuance and sale of company stock, combining common and preferred shares.
This purchase elevates Strategy’s total Bitcoin holdings to an impressive 555,450 BTC. The cumulative investment poured into this digital asset portfolio now surpasses the $38 billion mark, reflecting a consistent accumulation strategy over time.
Consequently, the company’s average cost basis for its entire Bitcoin collection has risen slightly to $68,550 per coin. Funding this buy exhausted Strategy’s 2024 stock offering program, prompting the immediate launch of a new $21 billion at-the-market facility.
Photo: Michael Saylor by Gage Skidmore
