- Michael Saylor’s Strategy acquired 6,911 additional BTC for ~US$584M, boosting its total to 506,137 BTC worth roughly US$33.7B.
- The purchase was funded via share sales from its “Common ATM” and “STRK ATM” programs under the “21/21 plan”.
- Strategy now holds over 2% of the global Bitcoin supply, outpacing other major holders like Tesla and Coinbase.
Nature seems to be healing now that Michael Saylor’s Strategy has announced the acquisition of 6,911 additional Bitcoin (BTC) for approximately US$584.1M (AU$929M) at an average price of around US$84,529 (AU$134,547) per coin.
This brings the company’s total holdings to over 500,000 BTC, with a current position of 506,137 BTC acquired for roughly US$33.7B (AU$53B) at an average price of about US$66,608 (AU$106,505) per BTC.
This is a significantly higher purchase than the one made last week when Strategy was outstripped by its Japanese version, MetaPlanet.
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Buying Bitcoin With New Programs
Just about two weeks ago, Michael Saylor announced a US$21B (AU$33B) stock sale to finance additional Bitcoin purchases during the market downturn. This capital raise is part of the company’s “21/21 plan” and involves issuing 8% Series A Perpetual Strike Preferred Stock —a funding mechanism that allows Strategy to raise significant capital without a fixed repayment timeline.
According to the SEC filing, Strategy financed this BTC acquisition using proceeds from its “Common ATM” and “STRK ATM” programs. Between March 17 and March 23, the company sold 1,975,000 shares of its Class A common stock, generating net proceeds of about US$592M (AU$942M), along with 13,100 shares of its 8.00% Series A Perpetual Strike Preferred Stock, which netted over US1M (AU$1.57M).
Data from BitcoinTreasuries.net indicates that Strategy now owns more than 2% of the global circulating Bitcoin supply, a significant share compared to other major holders like MARA Holdings, Riot Platforms, Tesla and Coinbase, each of which controls less than 1%.
Related: Softer Crypto Regulations a Mistake, Leaves Investors Unprotected, Says Former SEC Director
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