Bitcoin: Strategy Adds $1.92 Billion
In a further display of unwavering conviction, business intelligence firm Strategy has once again doubled down on Bitcoin, adding a significant 22,048 BTC to their holdings, valued at nearly $2 billion.
According to a March 31 SEC filing, this latest purchase, made last week, cost the company $1.92 billion, equating to roughly $86,969 per bitcoin. This hefty investment propels Strategy’s total Bitcoin treasury to a remarkable 528,185 BTC, acquired for a cumulative $35.63 billion.
With Bitcoin currently trading around $82,000, Strategy’s digital asset portfolio is now estimated to be worth over $43 billion. It’s clear that Michael Saylor’s commitment to aggressively accumulating Bitcoin remains as strong as ever.
These recent Bitcoin acquisitions were primarily funded by issuing $1.2 billion in new MSTR common shares. By strategically using equity to acquire Bitcoin, Strategy is essentially converting its dollar reserves into a hard, digital asset. The company has truly pioneered the approach of leveraging its balance sheet to capitalize on Bitcoin’s potential growth.
Interestingly, Strategy’s average purchase price per Bitcoin has also been gradually increasing, now standing at $67,458. This underscores Saylor’s continued willingness to invest in Bitcoin, even at higher average prices as he continues to “stack sats.”
However, as Bitcoin has experienced a period of price consolidation, the difference between Strategy’s average entry price and the current market price has notably diminished. Should prices continue to soften, the company might soon find itself buying Bitcoin at prices below their average acquisition cost.
Regardless of short-term price fluctuations, Strategy’s long-term outlook on Bitcoin remains exceptionally optimistic. The company anticipates benefiting significantly from Bitcoin’s long-term appreciation against fiat currencies, which they believe will face devaluation due to ongoing inflation.
