Key Takeaways
- Strategy acquired 7,633 BTC for $742.4 million, bringing its total holdings to 478,740 BTC.
- The company resumed purchases after pausing its 12-week buying streak amid its earnings release.
- Strategy expects a $12.75 billion adjustment under new FASB accounting rules but faces tax uncertainty.
Strategy, formerly MicroStrategy, purchased 7,633 BTC between Feb. 3 and Feb. 9, spending approximately $742.4 million at an average price of $97,255 per Bitcoin, according to an SEC filing.
This brings its total Bitcoin holdings to 478,740 BTC, acquired for $31.1 billion at an average price of $65,033 per coin.
Funding details
The company now owns over 2.2% of Bitcoin’s fixed 21 million supply.
The latest acquisition was funded through the sale of 516,413 shares of class A common stock ($179 million) and 7.3 million shares of its 8.00% Series A Perpetual Strike Preferred Stock ($563.4 million).
Buying strategy
Strategy had paused its Bitcoin purchases last week during its earnings release but has now resumed acquisitions.
The company recently rebranded from MicroStrategy and adopted a new Bitcoin-inspired logo.
Financial outlook
Despite reporting a $670.8 million net loss in Q4 2024, largely due to $1 billion in impairment losses, Strategy expects a $12.75 billion accounting adjustment under the new Financial Accounting Standards Board (FASB) rules.
However, uncertainty remains over the tax treatment of its holdings under the Inflation Reduction Act.
Stock performance
Strategy’s stock (MSTR) closed at $327.56 on Friday, up 0.7% for the day and over 518% in the past year.
Pre-market trading shows MSTR up another 1.9% on Monday.
