Another Billion-Dollar Bitcoin Buy: Strategy Expands Holdings With 20,356 BTC

The leading business intelligence firm Strategy (formerly MicroStrategy) has continued its bitcoin (BTC) acquisition spree with a new $1.99 billion purchase.

According to a Form 8-K filing with the United States Securities and Exchange Commission (SEC), Strategy has expanded its BTC holdings by 20,356 coins at an average of $97,514 per BTC. The company held 499,096 BTC purchased for $33.1 billion at an average price of $66,357 per BTC.

Strategy Goes BTC Shopping Again

The funds used for Strategy’s latest BTC acquisition were raised from a private offering of 0% convertible senior notes due in 2030. The business intelligence entity announced Monday that it had completed the sales of its class A common stock for $2 billion – this excluded the issuance of an additional $300 million aggregate principal worth of notes.

“The notes are senior, unsecured obligations of Strategy. The notes do not bear regular interest, and the principal amount of the notes does not accrete. The notes will mature on March 1, 2030, unless earlier repurchased, redeemed, or converted. Before December 3, 2029, noteholders will have the right to convert their notes only upon the occurrence of certain events,” the company noted.

Following the completion of the Convertible Notes Offering, Strategy used approximately $1.99 billion in cash between February 18 and 23, 2025, to ramp up its bitcoin holdings.

On a year-to-date basis, Strategy has accrued a BTC yield of 6.9%, a BTC Gain of 30,702, and a BTC $ Gain of $2.941 billion. The value of the BTC $ Gain is based on bitcoin’s market price on the U.S. crypto exchange Coinbase at 4pm EST on February 23.

Strategy’s BTC $ Gain Target For 2025

The latest acquisition comes about three weeks after the company rebranded and changed its name from MicroStrategy to Strategy with a new logo featuring a stylized “₿,” reflecting its sharpened focus and pursuit of perfection. At the time, the largest corporate BTC holder also introduced two new key performance indicators: BTC Gain and BTC $ Gain.

The newest BTC purchase also follows a four-week break on Strategy’s acquisition spree. As of Strategy’s last announcement on January 27, the company had bought thousands of bitcoins for 12 consecutive weeks.

Meanwhile, Strategy is targeting a $10 billion gain from its Bitcoin accumulation strategy by the end of the year.