Strategy, led by Michael Saylor, has once again made waves in the cryptocurrency sector, unveiling a significant expansion of its Bitcoin portfolio over the past week. In a recent filing with the US Securities and Exchange Commission, the company revealed the acquisition of 22,337 Bitcoin between March 9 and March 13, with an average purchase price of $70,194 per Bitcoin. This latest move has pushed Strategy’s total Bitcoin holdings to an impressive 761,068.
Strong Bitcoin Purchases and Portfolio Growth
Well known for consistently increasing its Bitcoin position, Strategy has firmly established itself as a major corporate holder of digital assets. To date, the company has spent $57.61 billion on Bitcoin acquisitions, locking in an average cost basis of $75,696 per Bitcoin. With the cryptocurrency hovering near $74,000, the current market value of Strategy’s Bitcoin reserves now approaches $50 billion, bringing it close to breakeven in dollar terms after the latest purchases.
Based on the figures, Strategy now owns more than 3.4% of the entire Bitcoin supply—making it the world’s leading corporate Bitcoin holder by a wide margin.
Financing Tactics and Equity Programs
The company financed its most recent Bitcoin purchase through a combination of equity offerings and preferred stock issuance. Funds were raised both from the sale of its exchange-listed Class A shares—traded under the MSTR ticker—and a perpetual series of preferred shares issued under the STRC symbol.
Strategy’s approach to capital raising involves four distinct preferred stock programs, known by their tickers: STRK, STRC, STRF, and STRD, with respective total sizes of $21 billion, $4.2 billion, $2.1 billion, and $4.2 billion. Additionally, the company has launched an initiative called “42/42,” aiming to generate $84 billion in further funding by 2027. These ambitious fund-raising activities are designed to support ongoing and future Bitcoin acquisitions.
Diversified Preferred Shares Attract Varied Investors
Each series of preferred shares is structured to cater to investors with different profiles and risk appetites. The STRD series, for example, offers a 10% non-cumulative dividend and does not allow conversion into common shares. In contrast, the STRK series features an 8% dividend and provides a conversion option, offering potential for additional share ownership.
For more conservative investors, the STRF series is designed to deliver a 10% cumulative dividend and is non-convertible, providing steady returns without equity dilution. Meanwhile, the STRC series stands out with its cumulative floating-rate dividend, paid monthly, and aims to keep its share price close to a $100 nominal value.
Prior to announcing the large Bitcoin purchase, Michael Saylor took to social media to affirm the company’s continued commitment to Bitcoin accumulation. He underscored the strategy by sharing the phrase, “Stretch the Orange Dots”—a proactive nod to Strategy’s ongoing asset acquisition plan.
Market reactions quickly followed these developments. At press time, Strategy’s MSTR shares were up 4.4% in pre-market trading, while Bitcoin prices remained steady near the $74,000 mark, signaling heightened activity in both equities and cryptocurrency markets.
