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The company Strategy, the largest publicly traded corporate holder of Bitcoin, increased its reserve of the leading cryptocurrency by 22,337 BTC from March 9 to March 15. The average purchase price was $70,194 per coin.
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The firm announced that it now holds a total of 761,068 BTC (over 3.5% of Bitcoin’s total supply). In total, Strategy has invested approximately $57.61 billion at an average price of around $75,696 per coin.
The latest acquisition of Bitcoin was primarily financed through the issuance and sale of MSTR shares, along with some funding from the sale of STRC preferred shares.
The issuance of preferred shares from the STRK, STRC, STRF, and STRD series, totaling over $31 billion, is part of Strategy’s long-term initiative known as “42/42.” This plan aims to raise $84 billion for Bitcoin purchases by 2027 through the issuance of stocks and convertible bonds.
The company’s chairman, Michael Saylor, has stated that Strategy intends to buy as much Bitcoin as possible from the market, gradually reducing the amount of BTC available for trading. Saylor previously remarked that the first cryptocurrency is the most productive asset, thus it will always exhibit volatility, which should be regarded not as a flaw but as an inherent characteristic of the asset.
