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Strategy boosts Bitcoin holdings with a $180 million acquisition of 1,895 BTC, reinforcing its long-term bullish stance.
Michael Saylor’s company, Strategy (previously MicroStrategy), has added to its digital asset holdings. Regulatory filings show that between April 28 and May 4, Strategy bought 1,895 BTC for about $180.3 million.
This purchase was fully funded by selling common and preferred shares as part of its ongoing capital-raising efforts. The average price paid was $95,167 per coin, which increased Strategy’s total Bitcoin holdings to 555,450 BTC. It spent about $38.08 billion to acquire this Bitcoin, which is now worth over $52 billion at current market prices.
Despite Bitcoin’s price swings and uncertain regulations, Strategy is increasing its holdings. The firm recently finished its 2024 stock offering under the “21/21 Plan,” which aimed to raise $42 billion for buying Bitcoin. Now, it has started a new initiative called the “42/42 Plan,” which seeks another $42 billion, evenly split between debt and equity, by 2027.
As part of this plan, Strategy has launched new financial tools, including STRK and STRF preferred shares. These changes aim to ensure that there are enough funds available for ongoing BTC purchases.
As Bitcoin is close to $96,000, the firm’s recent buying has nearly broken even. This outcome supports their long-term strategy. They have no plans to sell and are focused on accumulating more Bitcoin, regardless of short-term market changes.
