Key Takeaways
- Strategy executed a $2.54 billion bitcoin acquisition last week, purchasing 34,164 BTC in its third-largest transaction to date.
- The company paid an average of $74,395 per bitcoin, expanding its total reserves to 815,061 BTC.
- Cumulative bitcoin investment now reaches approximately $61.56 billion with an average acquisition cost of $75,527 per coin.
- Funding came from $366 million in common stock issuance and $2.2 million from preferred stock (STRC) sales.
- Shares of MSTR declined more than 2.5% in pre-market sessions and have fallen 48% year-over-year.
Strategy executed yet another substantial bitcoin acquisition last week, accumulating 34,164 BTC for approximately $2.54 billion. This transaction represents the company’s third-largest single bitcoin purchase in its history.
The acquisition was revealed through a regulatory filing on Monday. Strategy paid an average price of $74,395 for each bitcoin acquired.
This latest purchase elevates Strategy’s cumulative bitcoin reserves to 815,061 BTC. The firm has invested roughly $61.56 billion to build this position, reflecting an average per-coin cost of $75,527.
Given that bitcoin was hovering around $75,000 when the filing was submitted, Strategy’s entire bitcoin position sits near breakeven.
The enterprise has been accumulating bitcoin since 2020, following a strategic shift from its traditional software operations toward adopting BTC as its core treasury reserve asset. Strategy maintains its position as the world’s largest publicly traded corporate bitcoin holder.
Financing Structure for the Acquisition
The most recent bitcoin purchase wasn’t financed exclusively through existing cash reserves. Strategy generated $366 million via common stock offerings and secured another $2.2 million through its perpetual preferred stock sales, referred to as Stretch (STRC).
This financing strategy — issuing equity to acquire bitcoin — has evolved into the company’s primary operational model. It enables continuous bitcoin accumulation while avoiding conventional debt instruments.
STRC shares rose 0.12% following the announcement, whereas MSTR shares declined over 2.5% during Monday’s pre-market session.
Market Pressure on MSTR Shares
Despite the magnitude of this bitcoin purchase, market sentiment remained subdued with a slightly bearish tilt.
MSTR was valued at $166.52 per share when the filing was released. The stock surged more than 10% on April 17 following reports that the company had achieved breakeven status on its bitcoin portfolio.
However, this recent rally has failed to offset significant year-long losses. MSTR has declined 48% over the trailing twelve months.
The stock’s trajectory remains tightly correlated with bitcoin’s price movements. When BTC experiences volatility, MSTR typically exhibits amplified moves in the corresponding direction — whether upward or downward.
Strategy’s preferred stock instruments, including STRC and STRD, have provided the company with diversified capital-raising mechanisms. STRD appreciated 0.53% after Monday’s disclosure.
STRF, another preferred offering, decreased 0.28% during the same timeframe.
The company currently maintains over 815,000 bitcoin in its treasury. At a $75,000 BTC valuation, this holding represents approximately $61.1 billion in value.
Bitcoin was trading near $75,000 when Monday’s filing was submitted, positioning Strategy’s complete holdings at approximately breakeven relative to its average cost basis of $75,527 per bitcoin.
