Michael Saylor’s company, Strategy (formerly MicroStrategy), has once again made a bold move in the crypto space. On March 31, the firm revealed that it had purchased 22,048 Bitcoin for a staggering $1.92 billion, further solidifying its status as one of the largest corporate holders of Bitcoin.
The company funded this massive acquisition using proceeds from its stock offerings, including MSTR at-the-market (ATM) sales, as well as preferred STRK ATM and STRF offerings. This latest investment underscores Saylor’s unwavering belief in Bitcoin as a long-term store of value, a strategy that has defined the company’s financial playbook in recent years.
Most recently, between March 24 and 30, Strategy purchased 22,048 Bitcoin at a price of $86,969 per Bitcoin. During pre-market hours, the company’s equities were trading at $282, $84, and $92, respectively, at the time of the acquisition.
The most recent addition brings Strategy’s total Bitcoin holdings to 528,185, valued at about $35.63 billion, with an average purchasing price of $67,458 per Bitcoin. Since 2020, the company has been steadily increasing its Bitcoin reserve, making it the world’s largest corporate Bitcoin holder. It is also working to convert its financial sheet into a digital asset reserve.
MARA Holdings, the largest Bitcoin mining company in the world, is looking to expand its Bitcoin holdings, currently at 46,374 BTC, by raising $2 billion through a new stock offering. While it’s still far behind Strategy (formerly MicroStrategy), which holds over 528,000 BTC, MARA isn’t backing down from its ambitions.
On March 28, the company filed an 8-K with the SEC, revealing its partnership with financial powerhouses like Barclays Capital, BMO Capital Markets, and Cantor Fitzgerald & Co. to sell common stocks at a par value of $0.0001 per share. The goal of this offering is to acquire even more Bitcoin and enhance its position in the market.
At the time of the announcement, Bitcoin was priced at $82,318.33, having dropped by over 5% that week according to Kraken’s price feeds. Despite this, MARA remains focused on increasing its digital asset reserves as it competes with other major players in the crypto space.
