Michael Saylor’s Strategy purchased 13,927 bitcoin last week at an average price of $71,902 per coin, bringing the total cost to roughly $1 billion, according to a Monday SEC filing.
The purchase brings the company’s total holdings to 780,897 BTC, acquired for approximately $59.02 billion at an average cost basis of $75,577 per coin.
Funded entirely by preferred stock
Unlike previous acquisitions that drew on a mix of equity and debt, last week’s purchases were funded entirely through $1 billion raised via sales of the company’s perpetual preferred stock, known as Stretch (STRC).
This marks a notable shift in how Strategy is financing its ongoing bitcoin accumulation strategy, leaning on a fixed-income-like instrument rather than diluting common shareholders directly.
Market reaction
Bitcoin was hovering just below $71,000 at the time of the announcement, while MSTR shares were down more than 2.5% in pre-market trading.
For a full picture of Strategy’s historical bitcoin holdings, the company has now spent roughly $59 billion building its position over several years, making it the largest corporate holder of bitcoin in the world.
Strategy’s growing treasury
Strategy has been one of the most aggressive corporate buyers of bitcoin, consistently adding to its position across multiple halving epochs.
With 780,897 BTC on its books, the company’s average cost basis of $75,577 sits above current spot prices, meaning the position is currently underwater on a cost basis.
