Strategy, the company led by Michael Saylor, has once again significantly increased its bitcoin reserves. Within a single week, it purchased nearly 25,000 BTC for over $2 billion, confirming that its business model today relies primarily on long-term bitcoin accumulation.
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Nearly 25,000 BTC in one week
According to the latest 8-K filing submitted to the U.S. Securities and Exchange Commission, Strategy purchased a total of 24,869 bitcoins between May 11 and 17. The company paid approximately $2.01 billion for the purchase, representing an average price of around $80,985 per BTC. This raised the company’s overall average cost for all held bitcoins to roughly $75,700.
Following this acquisition, Strategy holds a total of 843,738 bitcoins, which the company has gradually purchased for approximately $63.87 billion. At current prices, the value of its portfolio stands at around $65.3 billion. The company thus continues to strengthen its position as the world’s largest publicly traded bitcoin holder.
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Financing relies mainly on preferred shares
The main source of capital for the latest purchase was STRC preferred shares. According to regulatory documents, Strategy raised approximately $1.95 billion by selling roughly 19.5 million of these shares. This represented about 97 percent of the funds used for the latest BTC acquisition. Common MSTR shares played a significantly smaller role this time, with their sale generating another approximately $83.7 million.
Strategy thus continues with a model that is gradually transforming it into more of a bitcoin treasury fund than a conventional technology company. The current 843,738 BTC means the company holds more bitcoins than BlackRock through its client funds. However, the difference is fundamental: while BlackRock manages bitcoin on behalf of ETF fund investors, Strategy owns its BTC directly as a corporate reserve. With the growing volume of held bitcoins, however, the company’s sensitivity to BTC price developments, capital availability, and potential extended periods of market decline also increases.
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