Saylor’s Strategy buys 6,556 Bitcoin for $555 million

Michael Saylor’s Strategy announced today that the company had purchased another 6,556 Bitcoin at an average price of $84,785 between April 14 and 20, spending around $555 million on the coins.

The purchase was funded through proceeds from Strategy’s Common ATM equity offering and Series A perpetual convertible preferred stock offering. Between April 14 and 20, the company sold 1.7 million MSTR shares and over 91,200 STRK shares, generating total net proceeds of over $555 million, as detailed in a Monday SEC filing.

As of April 20, Strategy still has over $1.5 billion in MSTR shares and nearly $21 billion in STRK shares available for future issuance and sale.

Strategy is committed to increasing its Bitcoin holdings after setting a goal of accumulating $42 billion in Bitcoin by the end of 2027, regardless of market conditions.

With the new purchase, the firm now holds 538,200 Bitcoin, equivalent to over 2.5% of the total BTC supply. The stash is valued at around $47 billion at current market prices.

The announcement followed Saylor’s post about Strategy’s portfolio tracker on Sunday, a move often viewed as a signal that an acquisition announcement is imminent.

The latest purchase also marks Strategy’s second consecutive week of Bitcoin acquisitions. Last week, the firm disclosed it had acquired 3,459 Bitcoin for nearly $286 million.

Saylor also revealed on Sunday that over 13,000 institutions now hold direct exposure to Strategy. The expanding presence of Strategy in financial markets and its inclusion in the Nasdaq 100 have attracted both retail and institutional investment, channeling more capital into Bitcoin.

https://twitter.com/saylor/status/1914017265751826527?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer