Strategy Inc. completed a Bitcoin acquisition valued at roughly $76.5 million using the proceeds from sales of its Class A common stock, according to a regulatory filing made public on Monday. The company purchased 1,031 Bitcoin during the period from March 16 through March 22, funding the buys through at-the-market sales of its common shares.
This transaction follows a significant financing move the week before, when Strategy raised approximately $1.2 billion by issuing "Stretch" perpetual preferred shares. That earlier issuance supplied the bulk of funds for the company’s largest single Bitcoin purchase since January.
Strategy’s management has been alternating between two principal funding mechanisms to acquire Bitcoin. Selling common stock reduces existing shareholders’ percentage ownership and therefore causes dilution. By contrast, issuing preferred shares avoids that immediate dilution but creates a recurring obligation - in the current preferred share program the fixed rate is 11.5 percent. Company leadership has been rotating between these methods depending on prevailing market conditions.
As of the filing, Strategy holds more than 762,000 Bitcoin, with a notional value of about $54 billion. The company’s consolidated average acquisition cost for its holdings stands near $75,700 per Bitcoin, a level above Bitcoin’s then-current trading price, which is near $70,000.
Context and implications
The recent common-stock-funded purchase is part of an ongoing capital allocation pattern in which Strategy mixes equity and preferred-share offerings to add to its Bitcoin reserve. The company’s average per-Bitcoin purchase price versus the current trading price is a salient metric for investors assessing potential mark-to-market exposure.
Data reported
- Bitcoin bought this week: 1,031 BTC
- Purchase value: roughly $76.5 million
- Purchase dates: March 16 through March 22
- Preferred funding raised prior week: $1.2 billion via "Stretch" perpetual preferred shares
- Company Bitcoin holdings: more than 762,000 BTC, valued at about $54 billion
- Average purchase price: about $75,700 per Bitcoin
- Bitcoin trading level noted: near $70,000
Takeaway
Strategy continues to grow its Bitcoin position using a mix of common-stock sales and preferred-share issuances, balancing the trade-offs between shareholder dilution and fixed financing costs as it accumulates digital assets.