Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Strategy Buys 1,031 Bitcoin, Total Holdings Reach 762,099 BTC

Highlights:

  • Michael Saylor’s Strategy lifted its Bitcoin stash to 762,099 BTC after a $76.6 million buy.
  • Common stock sales funded the latest purchase during a softer Bitcoin market.
  • The new ATM programs will give Strategy more room to raise capital for future Bitcoin buys.

Michael Saylor’s Strategy kept buying Bitcoin even as prices stayed below its average purchase cost last week. Strategy bought 1,031 Bitcoin for $76.6 million between March 16 and March 22, lifting its total BTC holdings to 762,099 BTC. According to its latest SEC filing, the average purchase price reached $74,326 per coin.

Advertisement

Banner

Strategy Buys 1,031 Bitcoin as Weekly Pace Cools

Michael Saylor signaled the acquisition before today’s announcement, as seen in previous purchases. On Sunday, he posted an update from the company’s Bitcoin tracker, stating “The Orange March Continues,” pointing to more accumulation.

The latest move, however, came at a slower pace than earlier March purchases. Strategy announced a 22,337 BTC buy the previous week. Before that, it disclosed another 17,994 BTC purchase. Despite the decrease, this latest addition still extends its lead among public corporate Bitcoin holders.

The company now holds Bitcoin worth about $57.69 billion in total. Its average acquisition price stands at $75,694 per Bitcoin, including fees and expenses. The company has continued to treat pullbacks as buying windows, despite the stash sitting below cost at current market prices.

Currently, Strategy holds more than 3.5% of Bitcoin’s fixed 21 million supply. The company’s holdings currently carry several billion dollars in unrealized losses. However, the management has kept the focus on long-term accumulation rather than short-term market swings.

Fresh Stock Sales Funded the Latest Purchase During a Softer Market

Unlike some earlier March deals, this purchase relied mainly on common stock sales. Strategy sold 509,111 MSTR shares for about $76.5 million last week. The share sale almost fully covered the Bitcoin purchase. The firm said it did not sell perpetual preferred shares during that period.

The recent larger acquisitions used a different funding mix. In February, preferred stock played a major role in raising fresh capital. By contrast, this latest transaction relied on the MSTR in the market program. As of 22 March, about $6.24 billion remained available under that plan.

Meanwhile, Bitcoin traded in a softer range during the buying period. Bitcoin traded in a range-bound between $68K and $75K last week. As of this writing, BTC was trading around $70,195, up by 2% over the last 24 hours.

New Fundraising Capacity Gives the Company More Room to Keep Buying

In a separate announcement, Strategy has expanded its fundraising options through new at-the-market programs. The company has filed fresh $21 billion ATM programs for MSTR common stock and STRC preferred shares. It also launched a new $2.1 billion STRK ATM program and terminated the prior STRK offering.

In addition, the company increased authorized STRC shares sharply while cutting authorized STRK shares. This shift points to a stronger role for STRC in future fundraising. However, ATM programs let companies sell gradually, not all at once. As a result, the filings expand flexibility rather than signal immediate full issuance.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner