Strategy Nears BlackRock ETF Holdings After $1B Bitcoin Buy

The acquisitions were funded entirely through sales of Strategy's perpetual preferred equity product, STRC.

Bitcoin News

Michael Saylor's Strategy acquired 13,927 Bitcoin between April 6 and April 12 for approximately $1 billion at an average price of $71,902 per coin, according to an 8-K filing with the U.S. Securities and Exchange Commission on Monday.

The purchase, Strategy's fourth-largest weekly acquisition this year, brings total holdings to 780,897 BTC, bought at a cumulative average price of $75,577 per coin for a total outlay of around $59 billion including fees. At current prices, the company's holdings carry approximately $3.6 billion in paper losses and represent more than 3.7% of Bitcoin's capped 21 million supply.

The acquisitions were funded entirely through sales of Strategy's perpetual preferred equity product, STRC. The company sold 10,028,363 STRC shares last week, generating around $1 billion in proceeds. No shares of its Class A common stock were sold during the period, with $27.1 billion still available under that program. As of April 12, $21.6 billion worth of STRC shares remain available for issuance under the current program.

STRC, a variable-rate cumulative preferred stock that pays monthly dividends and is designed to trade near its $100 par value, recorded its second-largest weekly issuance on record last week, nearly three times the four-week average. The product has paid 11.5% in monthly dividends and has increasingly served as the primary funding mechanism for Strategy's Bitcoin acquisitions in recent weeks.