Key Takeaways
- Strategy acquired 6,911 BTC, pushing its total holdings past 500,000 BTC.
- The company funded its purchases through stock sale programs, offloading MSTR and STRK shares.
- Strategy accounted for 16% of all equity raised or announced in 2024.
Michael Saylor’s Strategy has once again expanded its Bitcoin holdings, surpassing the 500,000 BTC mark and cementing its status as the largest corporate Bitcoin holder.
The firm’s aggressive accumulation continues, fueled by stock sales that have raised billions for its crypto-focused strategy.
Strategy Tops 500,000 Bitcoin Holdings
Between March 17 and 23, Strategy acquired 6,911 BTC for approximately $584.1 million, bringing its total holdings to 506,137 BTC.
The new Bitcoin was purchased at an average price of $84,529 per coin, including fees.
With Strategy’s total BTC holdings currently valued at around $42.8 billion, the company’s long-term bet on the digital asset is more pronounced than ever.
Strategy’s continued Bitcoin acquisition is powered by its stock sale programs, leveraging both common (MSTR) and preferred (STRK) shares.
In just one week, the company sold 1.98 million MSTR shares for $592.6 million and 13,100 STRK shares for $1.1 million, securing capital to fuel further purchases.
These sales are part of a broader fundraising effort. As of now, the company still has $3.57 billion worth of MSTR and $20.99 billion worth of STRK shares available for sale through its ongoing stock issuance programs.
Saylor’s War Chest: $200 Million Ready for Future BTC Buys
Despite the latest purchases, Strategy still has nearly $200 million in cash reserves from its STRK share sales, which could be used for additional Bitcoin acquisitions.
However, the future of STRK share issuance remains uncertain.
Unlike common stock, STRK shares grant dividend rights but no voting power, making them a unique tool in Strategy’s capital-raising efforts.
Whether the company will continue using this mechanism for future purchases is yet to be seen.
This stock-driven acquisition strategy is part of the company’s ambitious goal to reach a $21+21 billion capital target, which will be used to acquire additional Bitcoin as part of its ongoing investment strategy.
A Market Force Beyond Its Size
Despite making up only 0.07% of U.S. equities by market cap, Strategy has punched far above its weight, accounting for 16% of all equity raised or announced in 2024.
The software sector saw $39.5 billion in additional offerings, and over 70% of that came from Strategy alone.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
