Strategy has added 1,045 Bitcoin worth $110.2M, raising its total BTC holdings to 582,000 as it continues its long-term accumulation plan.
As the price of Bitcoin approaches its all-time peak, Strategy has acquired $110.2 million in the cryptocurrency.
The company acquired 1,045 Bitcoin BTC, as indicated in a Monday filing with the US Securities and Exchange Commission (SEC).
$107,843 at an average price of $105,426 per coin.
The company currently possesses 582,000 BTC, which were acquired for approximately $40.8 billion at an average price of roughly $70,086 per BTC.
Strategy co-founder and executive chairman Michael Saylor hinted at the acquisition on June 8.
The announcement follows.
The company has acquired Bitcoin for the ninth consecutive week with this purchase.
The most recent acquisition was announced as Bitcoin approached its all-time high.
At the time of writing, Bitcoin was trading at $107,640, which is only 3.9% lower than the all-time peak of approximately $112,000 reported in May, according to CoinMarketCap.
Strategy’s Most Recent Stock Offering
The company’s most recent Bitcoin acquisition follows its announcement of a $1 billion stock offering, quadrupling its previous announcement of a $250 million raise.
The company intends to allocate the proceeds to corporate expenses and further Bitcoin acquisitions.
11.76 million shares of Strategy’s 10.00% Series A Perpetual Stride Preferred Stock are being issued for $85 per share in the stock offering.
The firm anticipates raising approximately $979 million after subtracting expenses from underwriting and other dues.
In contrast to previous fundraising cycles, this offering is intended to attract institutional and professional investors interested in yield-generating opportunities by offering non-cumulative dividends of 10%.
Corporate Imitators Adhere To Strategy’s Methodology
In August 2020, Strategy, which was previously known as MicroStrategy, initiated the accumulation of Bitcoin with an initial purchase of 21,454 BTC for $250 million.
The company currently possesses a greater than 2.75% stake in the total Bitcoin supply.
The company’s market capitalization increased from $1.2 billion in July 2020, before its Bitcoin accumulation, to $104.6 billion.
Its success has served as an incentive for numerous other organizations to emulate its approach.
Metaplanet, which is referred to as “Japan’s MicroStrategy,” is one of them.
It has recently become the eighth-largest corporate holder of Bitcoin globally, employing the same methodology as Strategy.
Similarly, The Blockchain Group, a company headquartered in France, has increased its treasury by 580 Bitcoin, resulting in a 225% increase in its stock price.
This transition to BTC accumulation occurred in November 2024.
Norwegian Block Exchange, a crypto exchange headquartered in Norway, experienced a 138% increase in its stock price within a single day of proclaiming its intention to acquire and retain Bitcoin earlier this month.
