Strategy (formerly MicroStrategy) Acquires Another 22,048 Bitcoin

MicroStrategy, recently rebranded itself as Strategy, said Monday it had acquired 22,048 Bitcoin worth around $1.9 billion between March 24 and 30. The purchase was completed at an average of $86,969 per coin.

Recently renamed Strategy (Nasdaq:MSTR) disclosed on Monday the acquisition of 22,048 Bitcoin in the period from March 24 to 30. The purchase was executed at an average price of $86,969 per coin, with the total value of the acquisition estimated at $1.9 billion.

The announcement follows a teaser from Michael Saylor, Strategy Executive Chairman, on Tuesday about an impending Bitcoin purchase, a move that typically heralds an upcoming acquisition disclosure.

As disclosed to the SEC on Monday, Strategy funded its latest Bitcoin acquisition with proceeds from Common ATM, STRK ATM and STRF Offering.

During the week ending March 30, Strategy sold 3,645,528 shares of its Class A Common Stock, generating approximately $1.2 billion in net proceeds.

After this sale, Strategy still has shares of its Class A Common Stock available for issuance and sale in an aggregate amount of $2.3 billion.

The Tysons, Virginia-based company also sold 213,807 shares of its 8.00% Series A Perpetual Strike (STRK) Preferred Stock, from which it realized approximately $18.52 million, with an estimated $20.97 billion in STRK shares still available for sale.

Earlier this month, Strategy completed an offering of 8.5 million shares of its 10.00% Series A Perpetual Strife (STRF) Preferred Stock. As of March 25, the company estimates that the net proceeds from this offering will be approximately $711 million.

This latest purchase brings Strategy's total Bitcoin holdings to over 528,000 BTC, cementing its standing as the largest Bitcoin corporate holder worldwide.

Shares of Strategy (MSTR) closed Friday down nearly 11% and were up around 27% in Monday’s pre-market session. The stock's performance is often linked to the price movements of Bitcoin.

Bitcoin is currently trading at approximately $82,100, showing a decrease of 4.5% over the past week, according to TradingView's data.