Bitcoin treasury firm Strategy has purchased an additional 34,164 BTC for about $2.54 billion, marking its largest weekly acquisition since November 2024.
The company acquired bitcoin from April 13 to April 19 at an average cost of $74,395 per coin, according to a U.S. Securities and Exchange Commission filing. The latest move significantly expands Strategy’s already massive crypto holdings.
The company now possesses 815,061 Bitcoin, which equals a market value of approximately $61.2 billion. The total expense for these holdings reached $61.6 billion, which includes fees and expenses, because they were acquired at an average price of $75,527 per bitcoin.
Strategy continues aggressive bitcoin accumulation plan
Michael Saylor who works as the executive chairman and co-founder of Strategy confirmed the company purchase which includes bitcoin assets that constitute more than 3.8% of the total 21 million BTC supply. The current market prices show that the value of the position stands at approximately $400 million less than what the company paid to acquire it.
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The company used equity sales to finance its most recent purchases which included the sale of its Class A shares (MSTR) and preferred stock offerings. Over the past week Strategy sold more than 2.1 million MSTR shares which resulted in approximately $366 million. The company issued almost 21.8 million shares of STRC preferred stock which brought in approximately $2.18 billion.
The STRC offering has become a key funding tool for the company’s bitcoin strategy. The variable-rate preferred stock provides monthly dividend payments at an annualized yield which currently stands at approximately 11.5%. Strategy recently proposed adjusting its dividend payments to twice per month to improve liquidity and market efficiency. A shareholder vote on this change is expected to conclude on June 8.
The “42/42” strategy which serves as the main companywide initiative plans to acquire $84 billion through equity and convertible notes between now and 2027 to fund its ongoing bitcoin purchases. The capital programs of Strategy now include extra share offerings which use various financial instruments to fund their operations. Saylor revealed his major acquisition plans through a social media post which included the message Think even bigger to indicate his intention to make a purchase larger than his previous week.
Public companies now adopt bitcoin as a treasury asset because they want to achieve their financial objectives through aggressive investment. The company’s stock experienced substantial growth by increasing over 27% during the previous week while bitcoin saw a price rise of approximately 9% during the same timeframe.
Despite concerns from some investors about valuation and risk, Strategy remains one of the largest corporate holders of bitcoin globally.
