Strategy has acquired 4,020 BTC between the 19th and 25th of May for $427.1 million, financed through three separate stock sales programs.
Strategy acquires for $427 million in Bitcoin
The Bitcoin frenzy continues. Strategy, the first publicly traded company holding BTC in the world, has just added 4,020 bitcoins to its war chest between May 19 and 25, for a total of $427.1 million. A massive purchase once again funded through a carefully orchestrated fundraising via three distinct stock programs.
A perfectly assumed dilution strategy
To finance this operation, Strategy sold:
- 847,000 common shares of MSTR for $348.7 million,
- 678,970 preferred shares of STRK for $67.9 million,
- 104,423 preferred shares of STRF for $10.4 million.
A total of $427 million raised in just a few days thanks to its renowned ‘at-the-market’ (ATM) programs, allowing the company to continuously sell its securities on the market at the prevailing price. A well-oiled mechanism that Strategy utilizes to convert its shares into Bitcoin, seemingly without limits.
580,250 BTC in reserves and 2.75% of Bitcoin supply
With this new tranche, the company now holds 580,250 bitcoins in reserve, acquired at a cumulative cost of $40.61 billion. The average cost per BTC? Approximately $69,979. A publicly acknowledged long-term accumulation strategy, where each massive purchase is now closely monitored by the market.
For comparison, Strategy currently holds over 2.75% of the total BTC supply in circulation. Sustaining its influence on the ecosystem and justifying its unofficial nickname: the ‘Bitcoin Central Bank’.
