Strategy, formerly MicroStrategy, buys 21,021 BTC for $2.47B after closing its $2.52B STRC IPO, boosting holdings to 628,791 BTC.
Strategy, which was previously known as Strategy, has disclosed its most significant Bitcoin acquisition of the year, after the conclusion of its STRC IPO. The IPO is also the largest of the year, highlighting the significant demand among institutional investors interested in acquiring exposure to BTC in any capacity.
Strategy acquires 21,021 bitcoins for $2.46 billion
The company disclosed in a press release that it acquired 21,021 BTC for $2.46 billion at an average price of $117,256 per Bitcoin, utilizing the net proceeds from its STRC IPO. This brings its total holdings to 628,791 BTC, which were acquired for $46.8 billion at an average purchase price of $73,227 per Bitcoin.
Additionally, the company has generated a BTC yield of 25.0% year-to-date (YTD). This development occurs just one day after the organization disclosed that it did not acquire any Bitcoin between July 21 and 27.
This acquisition represents the organization’s most substantial acquisition of the year, surpassing its acquisitions of $1.92 billion and $1.34 billion in March and May, respectively. Additionally, it reinforces its status as the largest public Bitcoin treasury.
As previously reported, the company had declared that it would allocate the net proceeds from the STRC IPO to acquire additional Bitcoin for its treasury. The aggregate proceeds from the offering were approximately $2.521 billion, as revealed by the Strategy.
Nevertheless, the net proceeds were approximately $2.474 billion after the company’s estimated offering expenses and the underwriting discounts and commissions were deducted.
