Strategy, the Virginia-based software company that has transformed itself into the largest corporate holder of Bitcoin, acquired 22,337 Bitcoin during the week ending March 15 for approximately $1.6 billion.
The purchase, disclosed in a regulatory filing today, brings the firm’s total holdings to 761,068 Bitcoin valued at $56 billion at current market prices.
The company funded the latest acquisition through its at-the-market equity offering program, selling 11.8 million shares of its STRC preferred stock for nearly $1.2 billion in net proceeds and 2.8 million shares of its MSTR common stock for $396 million.
Strategy paid an average price of $70,194 per Bitcoin during the reporting period, representing a discount to current spot prices.
The filing reveals that Strategy retains substantial firepower for future purchases. Across its various securities, the company has around $34 billion remaining available for issuance and sale.
Its STRK preferred stock alone accounts for over $20 billion of that capacity, while over $6 billion remains under its common stock program. The STRF, STRD, and STRC preferred offerings hold an additional $7.6 billion in combined capacity.
Source: https://cryptobriefing.com/bitcoin-acquisition-strategy-expansion/
