Home » Michael Saylor’s Strategy acquires 7,633 Bitcoin after one-week break, holdings now worth $46B

Michael Saylor’s Strategy acquires 7,633 Bitcoin after one-week break, holdings now worth $46B

by Bella Baker
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Key Takeaways

  • MicroStrategy purchased $742 worth of Bitcoin in the week ending Feb. 9.
  • The company’s Bitcoin treasury strategy aims to raise $42 billion by 2027 for further Bitcoin acquisitions.

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Strategy, rebranded from MicroStrategy, has resumed Bitcoin purchases after a week-long pause. The company’s co-founder, Michael Saylor, announced Monday that they acquired approximately 7,633 Bitcoin, valued at around $742 million, between February 3 and 9, paying an average of $97,255 per coin.

The announcement came after Saylor on Sunday hinted at a potential resumption of Bitcoin purchases.

According to a recent SEC filing, Strategy purchased BTC using net proceeds from the sale of shares of its Class A common stock, and additional proceeds from its preferred stock offering. Last week, the company sold an aggregate of 516,413 shares of its Class A common stock, generating approximately $179 million in net proceeds. As of Feb. 9, approximately $4.17 billion of shares remained available for issuance and sale.

Strategy also announced the completion of a public offering of 7,300,000 preferred shares at $80.00 per share on Feb. 5, generating an estimated $563 million in net proceeds.

With its new buy, Strategy now holds 478,740 BTC, worth approximately $46 billion at current market prices. The company has invested about $31 billion in Bitcoin at an average price of $65,033 per coin.

The acquisition follows recent shareholder approval to increase authorized Class A common shares from 330 million to 10.3 billion and preferred stock from 5 million to 1 billion. This expansion supports the company’s Bitcoin treasury strategy, which targets to raise $42 billion by 2027 for additional Bitcoin purchases.

MicroStrategy’s Bitcoin yield, measuring Bitcoin representation per share, has reached 4.1% year-to-date. Following a slight gain at the close of trading last Friday, the company’s shares surged 2% in pre-market trading on Monday, per Yahoo Finance data.

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