Michael Saylors Strategy Scoops Up More Bitcoin For $1.42 Billion, Pushing Holdings To 553,555 BTC
Led by Executive Chairman Michael Saylor, Strategy has again added to its massive Bitcoin (BTC) stack. Strategy purchased 15,355 Bitcoin last week, padding its corporate coffers by over $1.4 billion.
Strategy Boosts Bitcoin Holdings Above $52 Billion
According to a regulatory filing with the U.S. Securities and Exchange Commission on Monday, the company purchased 15,355 BTC for $1.42 billion between April 21 and April 27. This latest Bitcoin average purchase price was $92,737, increasing MicroStrategys overall average purchase price to $64,459.
With the latest Bitcoin buy, the Tysons, Virginia-based software firm now holds a whopping 553,555 BTC, valued at over $52 billion at current market prices. Thats the equivalent of over 2.6% of Bitcoins total 21 million supply and indicates unrealized gains of around $14 billion.
Strategy said the acquisition was made using proceeds from two recent equity offerings: the company received $1.4 billion in proceeds by issuing Class A common shares, while Strategy also earned $37.5 million from the sale of its so-called perpetual STRK preferred stock.
In late October 2024, Strategy unveiled a bold 21/21 Plan, which entailed raising $21 billion through an at-the-money equity offering program and $21 billion by issuing fixed-income securities. Following Mondays announcement, Strategy is more than halfway done with its three-year roadmap for $42B to purchase Bitcoin partially using corporate debt.
Growing Institutional Exposure
Strategy co-founder and Executive Chairman Michael Saylor recently suggested that the company is no longer a niche option for gaining exposure to BTCs price.
Based on public data, 13,000 institutions hold Strategys stock directly, along with 814,000 accounts tied to retail investors, he noted. Moreover, Saylor said 55 million investors have indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios.
Global Firms Continue Bitcoin Accumulation
The corporate Bitcoin accumulation race is heating up with investment banking giant Cantor Fitzgerald last week partnering with SoftBank, Bitfinex, and Tether to launch a $3 billion Bitcoin venture. Cantors new venture aims to launch with at least 42,000 BTC, which would make it the third-largest public treasury.
Meanwhile, Cantor joins the likes of Semler Scientific and Metaplanet in emulating the success of Saylors aggressive Bitcoin investment approach.
Text source: ZyCrypto
