Strategy Scoops Up More BTC For $76M

Michael Saylor’s Bitcoin treasury company, Strategy, has continued its orange march with a new round of bitcoin (BTC) acquisition. The latest scoop added over a thousand bitcoins to the company’s growing stash.

According to a tweet from Saylor, Strategy just spent approximately $76.6 million to purchase 1,031 BTC at roughly $74,326 per coin. As of writing, the firm held 762,099 BTC, purchased for $57.69 billion at $75,694 per BTC.

Saylor’s Orange March Continues

Strategy facilitated the latest buy with proceeds from the sale of its MSTR stock. The company reported the sale of 509,111 shares in a Form 8-K filing with the United States Securities and Exchange Commission (SEC). All proceeds from the stock sales were used to fund BTC purchases between March 16 and 22.

The acquisition follows a larger one announced last week. CoinTab reported that Strategy added $1.57 billion worth of BTC to its stash within the week that ended on March 15. The purchase added over 22,000 bitcoins to the firm’s holdings, significantly enhancing its BTC portfolio.

With Strategy controlling roughly 3.6% of bitcoin’s total supply, the entity now leads other public Bitcoin treasury companies by a large margin. The company is likely to crush its goal of 1 million BTC by the end of the year. The management just unveiled MSTR and STRC stock offerings to raise $21 billion in each program and fund more BTC acquisitions.

H100 Unveils BTC Acquisition Plan

As Strategy marches on with its consistent accumulation, several other companies are following in its footsteps. One such is infrastructure technology firm H100, which has decided to increase its BTC holdings regardless of the state of the market.

In a Monday announcement, H100 revealed that it has signed a Letter of Intent (LOI) to strategically acquire 3,500 BTC. The strategic purchase entails H100 acquiring all shares of Moonshot AS and Never Say Die AS, which are Bitcoin accumulation and investment strategy companies, in exchange for newly issued H100 shares. Such a move will position the Swedish firm as one of Europe’s largest publicly listed Bitcoin treasury companies.

H100 held 1,051 BTC at press time. By the end of the acquisition on May 21, the company would have increased its holdings by 2,450 BTC to 3,501 BTC.

It is worth noting that the agreement is aimed at strengthening H100’s existing business, not changing its listing structure. The only employee adjustments that would result from the arrangement would be in management and the board.