- Strategy raises $2.5B, purchases 21,021 BTC.
- Preferred stock sold exceeds target.
- Strategy now holds 628,791 BTC.
Strategy, led by Michael Saylor, acquired 21,021 bitcoins for $2.46 billion after a major stock offering, enhancing its corporate bitcoin portfolio’s strength.
This substantial purchase emphasizes corporate interest in bitcoin, indicating investor confidence and market stability. It sets a precedent for further institutional adoption.
Strategy, led by Michael Saylor, acquired 21,021 bitcoins using $2.5 billion from “Stretch” preferred stock. The Series A stock offering significantly exceeded its target, showcasing strong investor interest. Strategy continues its aggressive bitcoin acquisition approach.
The recent transaction involved selling nearly $2.5 billion in new preferred shares with a ticker of STRC. With a 9% initial annual dividend and priced below par, this offering indicates robust demand from investors.
Strategy’s acquisition added to its crypto holdings without impacting other digital assets. The immediate market effect on Bitcoin was minimal, with prices stable around $118,000, reflecting strong absorption capabilities.
This substantial bitcoin purchase boosts Strategy’s total holdings to 628,791 BTC, valued near $74 billion. This large accumulation represents a major portion of the cryptocurrency’s circulating supply.
Michael Saylor, Executive Chairman of Strategy, highlighted:
“Strategy has acquired an additional 21,021 bitcoins for ~$2.46 billion at an average price of $117,256 per bitcoin, using proceeds from our Series A “Stretch” Preferred Stock sale.”
No substantial impact on other cryptocurrencies or DeFi frameworks was observed. Strategy’s corporate strategy reflects broader institutional endorsement of Bitcoin. Historical data suggests this focus on Bitcoin aligns with increasing institutional interest in digital currencies.
