Strategy Acquires 130 BTC for $10.7M, Nears 500,000 Milestone

Michael Saylor, the Chairman of Strategy, has announced a new acquisition of 130 Bitcoin (BTC) for approximately $10.7 million. This purchase was made using cash proceeds from STRK ATM, marking the company's smallest Bitcoin acquisition to date. With this addition, Strategy's total Bitcoin holdings now stand at 499,226 BTC, just shy of the 500,000 milestone. The average price per Bitcoin in this transaction was around $82,981.

This acquisition underscores Strategy's continued commitment to Bitcoin as a key component of its investment strategy. Since August 2020, when the company first began purchasing Bitcoin, it has become the largest corporate holder of the cryptocurrency globally. This latest purchase brings Strategy's total investment in Bitcoin to approximately $33.1 billion, with an average purchase price of $66,360 per Bitcoin.

Saylor's recent tweets have drawn attention to Bitcoin's growing strength and stability within the financial system. He compared Bitcoin to an "Orange Dwarf," a type of star known for its longevity and increasing intensity over time. This analogy highlights Bitcoin's steady growth and its ability to attract capital, much like an orange dwarf star that grows stronger and denser as it ages.

The company's strategy of leveraging convertible bonds to fund its Bitcoin acquisitions has been a significant part of its success. Strategy has raised about $9 billion through the issuance of convertible bonds, making it one of the largest issuers in recent years. This approach has allowed the company to continue expanding its Bitcoin holdings while maintaining financial flexibility.

The latest acquisition of 130 BTC brings Strategy closer to its goal of reaching 500,000 BTC. With just 774 BTC remaining to reach this milestone, the company is poised to achieve this significant benchmark in the near future. This continued investment in Bitcoin reflects Strategy's long-term vision and commitment to the cryptocurrency as a valuable asset.

To fund this latest acquisition, the firm sold 123,000 shares of its perpetual preferred stock, STRK, raising about $10.7 million. This move feels almost cyclical, like a closed loop for Strategy: using traditional financial mechanisms - stock offerings, in this case - to fuel the accumulation of something decidedly untraditional. The stock program itself is part of a $21 billion offering, with $20.99 billion still available. It’s a strategy that doesn’t rely on hype or speculation, but on a steady, mechanical process of reinvestment. There’s no panic or rush, just a quiet, deliberate stacking of Bitcoin.

Saylor’s strategy continues to show a strong belief in Bitcoin’s future as a store of value and a way to protect against the ups and downs of traditional finance. With each acquisition, it is less about making a quick profit and more about using Bitcoin as a key part of a bigger financial plan. The focus remains on the fundamentals, not on short-term market fluctuations.