Michael Saylor, the Executive Chairman of Strategy, has indicated that the company may soon acquire more Bitcoin. Recently, Strategy’s total Bitcoin holdings surpassed 500,000 BTC after a new purchase. On March 30, Saylor posted on X about the company’s Bitcoin portfolio, suggesting they want to increase their reserves.
Historically, such posts have preceded announcements of new Bitcoin acquisitions. On Monday, Strategy revealed it had bought 6,911 BTC for about $584 million. This purchase raised their total holdings to 506,137 BTC, valued at over $42 billion. This makes Strategy the first publicly traded company to hold more than 500,000 BTC.
The company acquired its Bitcoin at an average price of $66,608 per BTC, totaling around $33.7 billion, including fees. Despite recent price changes, Strategy has $8.3 billion in unrealized gains. Currently, Bitcoin is trading at $83,000, recovering slightly after a dip to $82,100.
On March 21, Strategy announced a new stock offering for its 10.00% Series A Perpetual Strife Preferred Stock (STRF). They increased the offering from $500 million to $722.5 million, aiming to raise about $711 million for more Bitcoin acquisitions and operational support. The offering was set to settle on March 25, pending standard closing conditions. This initiative is part of their “21/21 plan,” which aims to raise $42 billion for Bitcoin purchases.
Previously, Strategy has used funds from stock offerings to support its Bitcoin strategy. Earlier this month, they sold 13,100 STRK shares for around $1.1 million. There are still $20.99 billion worth of STRK shares available for sale under the program.
