In brief
–Strategy, purchased 6,500 Bitcoin last week, padding its corporate coffers by $556 million.
–Tysons, Virginia-based MicroStrategy now owns 538,000 Bitcoin worth $46.8 billion.
–Strategy said the acquisition was made using proceeds from two recent equity offerings.
Strategy, formerly known as MicroStrategy, purchased 6,500 Bitcoin last week, padding its corporate coffers by $556 million, according to a Securities and Exchange Commission filing.
The Tysons, Virginia-based firm now owns 538,000 Bitcoin worth $46.8 billion following Bitcoin’s climb above $87,000 on Sunday, according to crypto data provider CoinGecko. The software firm said it scooped the asset up for an average price of $84,800 last week.
Strategy said the acquisition was made using proceeds from two recent equity offerings: the firm received $548 million in proceeds by issuing Class A common shares, while Strategy also gained $8 million from the sale of its so-called perpetual “STRK” preferred stock.
Uncertainty surrounding U.S. President Donald Trump’s trade war has weighed on risk assets in recent weeks, as economists pencil in slower growth and higher costs for consumers in the U.S., yet Strategy has bought Bitcoin fairly consistently since mid-March. Over the past six Mondays, Strategy has said that it bought Bitcoin on five of them.
The size of Strategy’s recent Bitcoin purchases has varied, however. After buying $11 million worth of Bitcoin in mid-March, it spent $1.9 billion on Bitcoin two weeks later, per Saylor Tracker.
Strategy’s shares were recently trading at about $322, up 1.6% on the day, according to Nasdaq. The stock changed hands as high as $328 during pre-market trading on Monday but plunged as low as $317 after the opening bell.
On Sunday, Strategy co-founder and Executive Chairman Michael Saylor noted on X, formerly Twitter, that the company isn’t a niche option for gaining exposure to Bitcoin’s price anymore.
Based on public data, 13,000 institutions hold Strategy’s stock directly, along with 814,000 accounts tied to retail investors, he said. In addition, Saylor said 55 million investors have “indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios.
Strategy was added to the Nasdaq 100 in December, a milestone placing it within the coveted ranks of tech giants like Apple and Meta. The company may also join the S&P 500 one day, but Strategy’s lack of consistent profits is currently a barrier, based on inclusion criteria.
Edited by James Rubin
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
