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Bitcoin’s maximum supply is capped at 21 million, most of which is already mined. Furthermore, significant amounts, including Satoshi Nakamoto’s holdings, are inaccessible, implying a limited number of BTC available for purchase. Amidst this scarcity, Strategy is setting its sights on acquiring even more.
Acquisition of a Billion-Dollar Bitcoin Cache
Strategy, holding 553,555 BTC, spent a total of $37.9 billion with an average unit cost of $68,459. Since the beginning of the year, the gains from BTC have surpassed $5.8 billion. In its report today, Strategy announced preparations for an additional $21 billion on share sales. The target for BTC earnings in 2025 is set at $10-15 billion.
Company CEO Phong Le expressed their accomplishment:
“We successfully completed the record-level $21 billion ATM share sale. This enabled us to add another 301,335 BTC to our balance sheet. During the same period, MSTR share price increased by 50%. We also executed two of the most successful preferred stock offerings of the last decade. Over 70 publicly traded companies have now adopted the Bitcoin 
$108,992 treasury standard; we are proud to lead this space.”
The most notable detail from the company’s first-quarter report is its holding of only $60.3 million in cash and derivatives. Michael Saylor’s company is fulfilling its commitment to purchase Bitcoin with everything it has. Moreover, it aims for even more with a new $21 billion offering.
The notion that a single company will make an additional $21 billion purchase of BTC indicates a significant rise in demand for Bitcoin when considered alongside ETFs, individual investors, professional investors, and other institutions. Consequently, the thought of BTC being priced below $100,000 seems increasingly irrational.
