Strategy Acquires 6,556 BTC for $555 Million, Boosting its Total Holdings to 538,200 BTC
Strategy, led by Michael Saylor, continues its massive bet on bitcoin. Between April 14 and April 20, the company acquired an additional 6,556 BTC for a total of $555.8 million. These purchases were financed through two equity fundraising programs, confirming Saylor’s strategy of using the markets to convert capital into bitcoin.
Financing Backed by the Stock Market
To finance this operation, Strategy sold 1.76 million Class A common shares, generating $547.7 million, and issued over 91,000 STRK preferred shares, raising an additional $7.8 million. These ‘at-the-market’ (ATM) programs allow the company to sell shares directly on the stock market at the prevailing price, offering increased flexibility to raise capital without delay.
Valuation Boosted by the Price of Bitcoin
This latest announcement comes as the price of bitcoin reaches $88,000, driving up the MSTR stock price by 1% at market open. This movement highlights the increasingly strong correlation between Strategy’s stock performance and bitcoin fluctuations. The company has become a major proxy for institutional investors looking for indirect exposure to cryptocurrency.
Michael Saylor continues to stand out in the world of publicly traded companies by pursuing a bitcoin accumulation strategy that goes beyond traditional treasury management. Going against inflationary monetary policies, Strategy positions itself as a stronghold of digital hard money with a long-term vision that remains unwavering despite market volatility.
