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Strategy Buys 20,356 Bitcoin Days After Unveiling $2B Debt Deal

Published February 24, 2025 2:15 PM

Edited by Ryan James

A Bitcoin sign is seen at the entrance of a cryptocurrency exchange office

Strategy adds 20,356 BTC for $1.99B. Meanwhile, the company finalizes a $2B convertible notes offering to fuel future Bitcoin acquisitions. | Credit: Chris McGrath/Getty Images

Key Takeaways

Strategy has bought 20,356 Bitcoin, bringing its holdings to almost 500,000 BTC.
The company had previously paused Bitcoin purchases in the past two weeks and did not sell any Class A common stock.
More BTC purchases are on the horizon as Strategy completed a $2 billion offering of convertible senior notes.

Strategy, formerly known as MicroStrategy, remains the largest corporate holder of Bitcoin, further expanding its reserves despite a recent slowdown in acquisitions.

While its rapid Bitcoin purchases had momentarily paused, Strategy is bolstering its financial position with a newly completed $2 billion convertible notes offering.

Strategy Buys Over 20,000 Bitcoin

Strategy has added 20,356 Bitcoin to its holdings for approximately $1.99 billion, with an average purchase price of $97,514 per Bitcoin. This results in a 6.9% BTC yield year-to-date in 2025.

As of Feb. 23, the company—formerly known as MicroStrategy—owns 499,096 BTC , acquired for around $33.1 billion at an average cost of $66,357 per Bitcoin.

Recently, Strategy had slowed its aggressive Bitcoin accumulation. Over the past two weeks, it has neither added to its Bitcoin reserves nor sold any Class A common stock through its market offering program.

The company, led by Michael Saylor, made significant acquisitions in 2024, purchasing 258,320 BTC.

New Debt Offer To Boost BTC Purchases

Strategy has also announced it finalized its previously announced $2 billion offering of 0% convertible senior notes due 2030, sold privately to qualified institutional buyers.

An option for an additional $300 million in notes was also granted to initial purchasers.

The unsecured notes do not bear interest or accrete in value and mature on Mar. 1, 2030, unless repurchased, redeemed, or converted earlier.

Conversion is allowed under specific conditions before Dec. 3, 2029. Strategy may settle conversions in cash, Class A common stock, or a mix of both.

The initial conversion rate is 2.3072 shares per $1,000 note. This translates to a $433.43 conversion price—a 35% premium over the stock’s $321.05 price on Feb 19.

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About the Author

Giuseppe Ciccomascolo

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.

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