Key Takeaways
- Strategy bought 20,356 BTC for $1.99 billion at an average price of $97,514 per Bitcoin.
- Strategy's total Bitcoin holdings now approach 500,000 BTC with an average buy price of $66,357.
- The recent purchase was funded through a $2 billion convertible note offering.
Strategy, previously known as MicroStrategy, has acquired an additional 20,356 Bitcoin (BTC) for approximately $1.99 billion, according to CEO Michael Saylor’s announcement on February 24.
The purchase was made at an average price of roughly $97,514 per Bitcoin.
Updated holdings
The latest acquisition brings the company’s Bitcoin holdings to 499,096 BTC, acquired at an overall average price of $66,357 per coin, amounting to $33.1 billion spent.
Strategy funded this major purchase through a $2 billion senior convertible note offering completed earlier the same day.
Convertible note details
These notes, due to mature on March 1, 2030, carry a 0% coupon rate.
Each $1,000 of notes can convert into 2.3072 shares of Strategy’s Class A common stock at a premium price of $433.43 per share, 35% above current market value.
The firm stated it intends to use the net proceeds primarily for Bitcoin acquisitions and general working capital as part of its “21/21 Plan,” which aims to raise $42 billion to purchase Bitcoin.
Financial performance
Currently, Strategy reports an unrealized profit of approximately $14.8 billion on its nearly half-a-million BTC holdings.
Despite recording a $670 million net loss in Q4 2024, the firm remains committed to its Bitcoin-focused strategy.
Institutional investment
Twelve U.S. states held Strategy stock in their pension funds or treasuries at the end of 2024, totaling $330 million.
Additionally, BlackRock recently increased its ownership stake in Strategy to 5%.
