Strategy, the bitcoin treasury company led by executive chairman Michael Saylor, purchased another 17,994 bitcoin for about $1.28 billion last week, continuing one of the largest corporate accumulation strategies in the digital asset market.
The company disclosed in a filing with the U.S. Securities and Exchange Commission that the purchases took place between March 2 and March 8 at an average price of $70,946 per coin. The acquisition brings the firm’s total holdings to 738,731 bitcoin.
Strategy has now spent roughly $56.04 billion to build its bitcoin position, with an average purchase price of $75,862 per coin. At the current price near $68,000, the company’s holdings carry a market value close to $50 billion.
The stash represents more than 3.4% of the fixed 21 million supply of Bitcoin, reinforcing MSTR’s status as the largest corporate holder of the asset.
Last week, Strategy purchased 3,015 bitcoin for about $204.1 million at an average price of $67,700 per coin, bringing its total holdings to 720,737 BTC at the time.
Strategy’s stock sales and stock issuance
The latest purchases were financed through a mix of equity sales and preferred stock issuance. The company sold 6,327,541 shares of its Class A common stock for about $899.5 million through an at-the-market program.
The company also raised roughly $377.1 million from the sale of 3,776,205 shares of its STRC perpetual preferred stock.
Strategy said about $6.71 billion in common stock remains available for issuance under its existing program. Another $3.16 billion in STRC preferred stock capacity remains available for sale.
The purchases form part of Strategy’s broader capital strategy designed to fund continued bitcoin accumulation. The company operates several perpetual preferred stock programs, including STRK, STRC, STRF and STRD, which together provide access to billions in potential financing.
Those offerings support the firm’s long-term “42/42” capital plan, which targets $84 billion in capital raises through equity offerings and convertible notes by 2027. The proceeds are intended to support continued purchases of bitcoin.
Saylor hinted at the acquisition before the official disclosure in a post on social media that referenced Strategy’s bitcoin tracker. The message stated that “the second century begins,” a reference to the firm surpassing 100 separate bitcoin purchases since launching its accumulation plans in 2020.
At the time, Strategy’s stock (MSTR) is trading up half a percent in pre-market. Bitcoin is trading slightly shy of $69,000.
Source: https://bitcoinmagazine.com/news/strategy-mstr-spends-1-28-billion-btc
