Saylor’s Strategy Spends $449M on Latest BTC Acquisition

Michael Saylor’s business intelligence firm, Strategy, has announced another bitcoin (BTC) purchase. The latest move has increased its holdings by 4,048 BTC.

According to a filing with the United States Securities and Exchange Commission (SEC), Strategy spent over $449 million. The purchase has grown the firm’s stash to 636,505 BTC.

Strategy Spends $449M on BTC Purchase

Strategy said it bought each BTC for its latest acquisition for $110,981 between August 26 and September 1. The entire stash is now collectively worth $46.95 billion, with each asset acquired for approximately $73,765. 

The Bitcoin treasury firm funded the purchases with proceeds from its MSTR, STRF, STRK, and STRD at-the-market (ATM) programs. Strategy raised $425.3 million from the sale of 1.237 million MSTR shares, $26.5 million from STRF sales, and $19 million from offloading almost 200,000 STRK shares. 

The company also generated $1 million from the sale of some STRD shares. These sales were part of stock offerings established months ago, primarily to grow Strategy’s BTC holdings and then cover corporate expenses. 

The offerings have shares worth billions left to be issued, with STRK accounting for the highest at $20.3 billion. The STRF ATM program is expected to yield the least amount of proceeds, at roughly $1.79 billion.

BTC Yield Up 25.7%

Strategy’s most recent buy comes a week after the company spent roughly $357 million to purchase over 3,000 BTC. The week before that, the entity spent $51 million on 430 BTC, and for the second week of August, Strategy’s BTC acquisitions cost $18 million.

As Strategy’s executive chairman, Saylor has led the firm to make consistent BTC purchases regardless of the market’s condition. BTC has been in a corrective phase for about three weeks after hitting its latest all-time high (ATH) above $123,780. At the time of writing, the leading cryptocurrency was changing hands below $109,000, registering a slight decline over the last 24 hours.

Amid bitcoin’s retracement, Strategy says it has achieved a year-to-date BTC yield of 25.7%. At the asset’s current value, the company’s stash is up 51.9% in profit, with unrealized gains exceeding $23.6 billion.

Meanwhile, Strategy is not the only firm that has been acquiring BTC relentlessly. The Japanese hotel management entity, Metaplanet, recently grew its holdings to 20,000 BTC by adding 1,009 coins earlier this week.

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