Michael Saylor’s Strategy Acquires Additional 22,048 Bitcoin for $1.92 Billion

Michael Saylor’s company, Strategy, has significantly expanded its Bitcoin holdings by purchasing an additional 22,048 BTC for approximately $1.92 billion. This acquisition brings the firm’s total Bitcoin reserves to 528,185 BTC, acquired at an average price of $67,458 per coin.

The recent purchase was financed through proceeds from the sale of common stock, highlighting Strategy’s ongoing commitment to integrating Bitcoin into its corporate strategy. At the time of this acquisition, Bitcoin was trading around $82,000, valuing the company’s total holdings at over $43 billion.

This move underscores Strategy’s confidence in Bitcoin as a long-term store of value and its dedication to increasing its exposure to the cryptocurrency market. By consistently augmenting its Bitcoin portfolio, Strategy continues to solidify its position as a significant institutional investor in the digital asset space.

In addition to this substantial purchase, Strategy has been actively raising capital to fund further Bitcoin acquisitions. The company announced plans to offer 5 million shares of its Series A Perpetual Strife Preferred Stock, intending to use the proceeds for general corporate purposes, including additional Bitcoin purchases.

Furthermore, Strategy’s aggressive accumulation strategy has involved issuing large amounts of equity at elevated stock prices to finance Bitcoin purchases. Since October 31, the company has issued approximately $10.5 billion of equity as part of a $42 billion program involving both bonds and stock to fund further Bitcoin acquisitions.

This strategic approach has not only increased Strategy’s Bitcoin holdings but also resulted in substantial sales commissions for underwriting firms involved in the equity sales. The company’s stock has seen a 500% increase this year, significantly outpacing Bitcoin’s 125% rise, and its market valuation now stands at $90 billion.

By leveraging equity and debt instruments to finance its Bitcoin acquisitions, Strategy continues to demonstrate its unwavering belief in the cryptocurrency’s potential and its commitment to being a leading corporate holder of Bitcoin.