Strategy Buys 13,390 Bitcoins for $1.34 Billion, Boosts Holdings to 568,840 BTC

Strategy, a prominent player in the cryptocurrency space, has made a significant move by purchasing an additional 13,390 bitcoins (BTC). This acquisition, valued at approximately $1.34 billion, was made at an average price of $99,856 per bitcoin, as disclosed in a filing published on Monday. This latest purchase brings Strategy's total bitcoin holdings to 568,840 BTC, which is now worth over $59 billion based on the current bitcoin price of around $104,000. The average purchase price across the company’s entire stack has now adjusted to $69,287.

The funding for this substantial purchase was secured through two capital-raising mechanisms. The first was an at-the-market (ATM) offering of its Class A common stock, and the second was the issuance of shares from its Series STRK preferred stock. Between May 5 and May 11, the company successfully raised $1.31 billion through the sale of common stock and issued 273,987 shares of the preferred stock series. This strategic move underscores Strategy's commitment to expanding its bitcoin holdings and leveraging its financial resources to capitalize on the growing value of the cryptocurrency market.

This acquisition is a testament to Strategy's bullish outlook on bitcoin and its confidence in the long-term potential of the digital asset. By increasing its holdings, the company is positioning itself to benefit from any future appreciation in the value of bitcoin. This move also highlights the company's ability to raise significant capital through various financial instruments, demonstrating its financial strength and strategic acumen. The purchase was made at a time when the bitcoin market is experiencing volatility, but Strategy's decision to acquire more bitcoins suggests that it believes the current price levels represent a good investment opportunity.