Strategy Expands Bitcoin Holdings by 130 BTC, Valued at $10.7 Million

Michael Saylor’s Strategy, a prominent corporate entity, has recently expanded its Bitcoin holdings by acquiring an additional 130 Bitcoin (BTC). This purchase was made between March 10 and March 16, with an average price of $82,981 per BTC, totaling approximately $10.7 million. This acquisition brings Strategy’s total Bitcoin holdings to 499,226 BTC, solidifying its position as one of the largest corporate holders of Bitcoin.

Strategy funded this acquisition through the sale of its Series A preferred stock. The company sold 123,000 shares of its 8.00% Series A perpetual strike preferred stock, generating approximately $10.7 million in net proceeds. Notably, no Class A common stock was sold during this period, aligning with Strategy’s recent financing strategies to expand its Bitcoin portfolio without impacting its primary stock structure.

With this latest purchase, Strategy’s total Bitcoin holdings are now valued at over $41.6 billion at current market prices. The company’s average purchase price across all acquisitions stands at $66,360 per BTC, inclusive of fees and expenses. Michael Saylor, the co-founder and executive chairman of Strategy, continues to advocate for Bitcoin as a long-term investment, emphasizing its potential as a store of value.

Despite Saylor’s confidence in Bitcoin, critics argue that gold may ultimately outperform Bitcoin as a long-term store of value. Peter Schiff, a prominent gold advocate, has warned that Bitcoin’s decline against gold indicates an inherent weakness in its ability to preserve wealth over time. This ongoing debate highlights the differing views on the future of digital assets versus traditional safe-haven investments.