- Strategy now holds 506,137 BTC, making up 2.55% of Bitcoin’s circulating supply.
- It raised $593M through stock sales to fund its aggressive Bitcoin accumulation.
- Despite market fluctuations, Strategy continues expanding its BTC holdings.
Strategy has again increased its Bitcoin holdings, breaking the 500,000 BTC barrier and cementing itself as the biggest corporate Bitcoin holder.
Strategy reported the purchase of 6,911 BTC on March 24 in an SEC filing for $584.1 million at a mean price of $84,529 per coin.
This places its total position at 506,137 BTC with a combined investment of $33.7 billion at an average cost of $66,608 per coin. The company’s unrealized gain is over $10 billion.
Corporate Bitcoin Holdings
Strategy controls around 2.55% of the 19.8 million BTC in circulation, significantly surpassing other institutional investors.
Its position is close to that of all 12 U.S. spot Bitcoin ETFs combined, which hold some 1.1 million BTC together, and is equivalent to almost half of Satoshi Nakamoto’s estimated horde.
In order to finance its Bitcoin strategy, Strategy raised $593 million selling about two million of its class A common shares through an equity offering that will support sales up to $21 billion.
The company still retains authority to sell further $3.57 billion shares.
Separately, it raised $1.1 million through the issuance of its perpetual strike preferred stock, Strike (STRK), which debuted in January. The Nasdaq-listed product features an 8% cumulative dividend, paid in cash or common shares.
Market Reaction
Though falling initially to $311.36 at the market open, Strategy’s stock recovered, ending 7.2% higher. STRK also increased by 1.1% to $86.50, though still below its February high of $99.
Co-founder Michael Saylor hinted at further Bitcoin buys on X, sharing a chart of the company’s buys with the caption, “Needs more orange.”
Strategy is sticking to its Bitcoin-biased plan. With billions of unrealized value and ongoing stock sales driving up acquisitions, its aggressive buy-up strategy remains driving the corporate Bitcoin agenda.
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