Strategy Buys 4,020 BTC for $427.1 Million, Becomes Largest Corporate Holder

Strategy, a prominent corporate entity, has recently expanded its Bitcoin holdings by acquiring an additional 4,020 BTC. This purchase was made at an average price of $106,237 per Bitcoin, totaling $427.1 million. The acquisition brings Strategy's total Bitcoin holdings to 580,250 BTC, making it the largest corporate holder of Bitcoin.

Strategy funded this latest purchase by selling several equity instruments between May 19 and 25. The company sold 847,000 shares of its Class A common stock, generating $348.7 million in net proceeds. Additionally, it raised $67.9 million from selling 678,970 shares of its perpetual strike preferred stock and another $10.4 million from 104,423 shares of its Series A perpetual strife preferred stock.

This acquisition marks Strategy's fourth Bitcoin purchase in May, equivalent to roughly nine days of new BTC supply. It is also the company's first purchase following Bitcoin's climb to a new all-time high of more than $111,000. The company's total investment in Bitcoin now stands at an estimated $40.6 billion, with an average cost of $69,979 per coin. Based on the current market value, Strategy's Bitcoin holdings are worth $63.8 billion, resulting in unrealized profits of over $23 billion.

Strategy's continued investment in Bitcoin reflects its confidence in the cryptocurrency's long-term value and potential. The company's significant holdings and ongoing acquisitions position it as a major player in the Bitcoin market, influencing the cryptocurrency's supply and demand dynamics. This latest purchase further solidifies Strategy's commitment to Bitcoin as a strategic asset, despite the volatility and risks associated with the cryptocurrency market.