Strategy Acquires Over 1,000 BTC in $76.6M Deal, Total Holdings Surpass 762K Bitcoin
In its latest acquisition, Strategy purchased 1,031 BTC worth $76.6 million, pushing total reserves to 762,099 Bitcoin, with the transaction financed through common stock offerings.
The corporation led by Michael Saylor, Strategy, which stands as the largest publicly traded Bitcoin (BTC) holder globally, completed another acquisition of 1,031 Bitcoin during the previous week in a transaction significantly smaller than its two preceding weekly purchases, with funding coming from the sale of its Class A common stock.
The company's purchase of 1,031 Bitcoin for a total of $76.6 million last week was disclosed in an 8-K document submitted to the US Securities and Exchange Commission this Monday.
The Bitcoin were purchased at a mean price point of $74,326 per token, which sits below the company's cumulative average purchase price of $75,694. During the week spanning March 16-22, Bitcoin's average stood at approximately $70,871, calculated using daily closing valuations.
With these latest acquisitions, Strategy now holds 762,099 BTC in total, representing an aggregate investment of approximately $57.69 billion, according to the company's statement.
Common stock funded the latest buy
The comparatively moderate acquisition by Strategy comes after substantially larger Bitcoin purchases in recent weeks, which included a 22,337 BTC acquisition disclosed the previous Monday and a 17,994 BTC purchase reported one week prior to that.
The acquisition of 22,337 BTC (valued at $1.6 billion) represents one of Strategy's most significant purchases historically and received primary funding through sales of the company's perpetual preferred equity, known as Stretch (STRC). Revenue from the stock totaled approximately $1.2 billion, representing roughly 75% of the complete purchase amount.
In contrast to the financing structure used the week before, this most recent acquisition seems to have been exclusively financed by sales of Strategy's Class A common stock instead of preferred equity instruments.
Throughout the month of March, Strategy has acquired 41,362 Bitcoin for a combined total of approximately $2.93 billion. At the current trading price of $70,430 for Bitcoin at the time of publication, the company faces an unrealized loss of approximately 7% on its BTC portfolio, which now carries a valuation of around $54 billion, based on information from CoinGecko.
The Bitcoin reserves held by Strategy currently sit approximately 3% below those of BlackRock's iShares Bitcoin Trust ETF (IBIT), which maintained custody of about 785,300 BTC on behalf of its investors following Friday's market close.
Collectively, US spot Bitcoin ETFs maintained holdings of nearly 1.3 million BTC as of March 20, which accounts for approximately 6.1% of Bitcoin's maximum supply cap of 21 million coins, based on statistics from WalletPilot.