Strategy Acquires $1.57B in Bitcoin, Boosting Holdings to 761,068 Coins
Strategy, a company that invests in Bitcoin and other assets, made its largest single-week acquisition of the year so far. Last week, it purchased 22,337 Bitcoin for approximately $1.57 billion, bringing its total holdings to 761,068 coins. The average price per coin was $70,194, which is below Strategy's overall average purchase price of $75,696.
The company funded the bulk of this purchase through sales of its perpetual preferred stock, STRC. It sold around 11.82 million STRC shares, raising approximately $1.18 billion, or about 75% of the total cost of the Bitcoin acquisition. Strategy also sold around 2.83 million Class A common shares, MSTR, generating roughly $396 million.
As of March 15, Strategy has $6.3 billion in MSTR shares and $1.96 billion in STRC shares remaining under their respective at-the-market programs. These programs are separate from the company's broader '42/42' plan, which targets $84 billion in total capital raises through 2027.
Executive Chairman Michael Saylor described STRC as the most liquid preferred stock in the market. Benchmark analyst Mark Palmer said that STRC is evolving beyond a simple funding tool and becoming the backbone of an ecosystem of yield-backed stablecoin protocols.