Strategy announced the purchase of 4,603 Bitcoin (BTC) for $370 million, recording the first major acquisition from the world’s largest corporate Bitcoin holder in about two months.
New Bitcoin Acquisition and Funding Details
According to a recent 8-K filing with the Securities and Exchange Commission, Strategy acquired this latest tranche at an average price of $80,318 per Bitcoin. The firm now holds a total of 845,050 BTC, with an aggregate cost of $63.3 billion at an average purchase price of $75,413 per coin.
The company financed the acquisition using the net proceeds from a recent sale of 602 million MSTR common shares. Of these funds, $30 million was allocated to bolster the firm’s USD cash reserves, and $151.8 million was used to repurchase its perpetual preferred STRC stock.
Market Reaction and Strategy’s Treasury Operations
MSTR, Strategy’s Nasdaq-listed stock, edged up less than 1% in pre-market trading on Monday following the announcement, recovering some ground after a decline of more than 7% last Friday.
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AAPLThis marks Strategy’s first Bitcoin purchase since mid-June, when the company acquired 1,587 BTC for approximately $100 million.
Michael Saylor, co-founder and executive chairman of Strategy, hinted at the renewed accumulation effort over the weekend by posting “We’re Back” on X (formerly Twitter). Saylor has a history of sharing veiled updates on Strategy’s treasury strategy ahead of official disclosures.
Michael Saylor signaled the company’s renewed buying activity by posting, “We’re Back,” in a weekend message, preceding the formal acquisition announcement.
Funding Mechanics and Dividend Framework
Strategy’s preferred perpetual stock, STRC, rose 0.44% in pre-market trading on Monday to $97.33 per share, which remains 2.67% below its intended $100 par value, according to data from Yahoo Finance.
STRC represents one of the company’s key vehicles for financing Bitcoin purchases. When STRC trades below par value, it can curtail the firm’s ability to raise additional capital through stock sales. This situation may lead to a higher nominal dividend rate to appeal to buyers and support STRC’s market price.
In a June 29 filing, Strategy outlined a capital management approach that permits Bitcoin sales to fund dividends. The company also raised the annual dividend rate for STRC preferred stock to 12%. In early June, Strategy reported selling 32 Bitcoin, the first such sale since a 2022 transaction for tax-loss purposes.
Mini dictionary: STRC stock – Strategy’s perpetual preferred stock, issued as a funding mechanism for its Bitcoin accumulation. The stock pays dividends and may be repurchased by the company to manage capital needs and shareholder returns.
| Metric | Value after current acquisition | Previous value (June) |
|---|---|---|
| Total Bitcoin held | 845,050 BTC | 840,447 BTC |
| Total cost basis | $63.3 billion | Approx. $62.9 billion |
| Average purchase price | $75,413 | $74,860 |
Strategy is a publicly traded business intelligence firm known for its aggressive Bitcoin treasury strategy and led by Michael Saylor. Through a combination of equity issuances and preferred stock offerings, the company has emerged as the single largest publicly held Bitcoin owner globally.
STRC’s dip below par may prompt Strategy to adjust its dividend rate further, as the company seeks to maintain funding flexibility for future Bitcoin acquisitions.
