Strategy Buys $2B Bitcoin via Preferred Stock Issuance, Holdings Reach 843,738 BTC
Strategy (formerly MicroStrategy) purchased 24,869 Bitcoin for $2 billion last week, its largest acquisition in nearly a month, funded by issuing nearly $2 billion in Stretch (STRC) preferred shares. The company now holds 843,738 BTC, valued at $64.4 billion. The purchase came as STRC traded near its $100 par value, allowing Strategy to issue new shares to raise capital. CEO Phong Lee reported a year-to-date "BTC Gain" of $6.6 billion, highlighting digital credit as a key driver. Despite a 7% drop in its stock price to $163.58, Strategy's shares have outperformed Bitcoin over the past month, rising nearly 2% versus Bitcoin's 0.4% gain. Bitcoin itself fell 2% to $76,361 after reaching a high of $82,500 earlier in March. STRC closed at $99.29 on Monday, down from its $100 par.
Key facts
- Strategy bought 24,869 BTC for $2 billion last week.
- Purchase funded by issuing ~$2 billion in STRC preferred shares.
- Total holdings now stand at 843,738 BTC worth $64.4 billion.
- CEO Phong Lee reported $6.6 billion year-to-date BTC Gain.
- Strategy stock fell 7% but outperformed Bitcoin over the past month.