Michael Saylor’s Strategy Makes Largest Bitcoin Buy This Year as MSTR Stock Rallies

Michael Saylor’s Strategy, previously MicroStrategy, made another weekly Bitcoin purchase last week, marking its 12th consecutive purchase. This comes as the MSTR stock rallies today, rising alongside Bitcoin, which reached an intraday high above $74,000.

Strategy Acquires 22,337 BTC For $1.57 Billion

An SEC filing shows that the company acquired 22,337 BTC for $1.57 billion at an average price of $70,194 per Bitcoin. It now holds 761,068 BTC, which it bought for $57.61 at an average price of $75,696 per Bitcoin. This marks the company’s largest Bitcoin purchase this year, surpassing the 22,305 BTC it bought in January.

The filing also showed that Strategy used the STRC and MSTR stocks to fund this latest purchase. It sold 11.8 million STRC shares and 2.8 million MSTR shares, raising net proceeds of $1.18 billion and $396 million, respectively.

It is worth noting that this is the first time that the company has raised more from the STRC at-the-market (ATM) program than the MSTR ATM to fund its weekly BTC purchase this year. This also coincides with the week that STRC had one of its best trading outings, becoming the most liquid preferred this month.

Source: Strategy SEC Filing

As CoinGape reported yesterday, Saylor had hinted at the Bitcoin purchase. He posted Strategy’s Bitcoin portfolio tracker with the caption, “Stretch the Orange Dots,” signaling that they had mainly used the STRC (Stretch) stock to fund the latest purchase.

Meanwhile, the MSTR stock has rallied amid this latest purchase. TradingView data show the stock is trading at around $145, up over 4% from last week’s close of $140. The stock climbed to as high as $149 in premarket trading today.

Source: TradingView; MSTR Daily Chart

An earlier report noted that MSTR stock could rally in anticipation of a massive Bitcoin buy by Saylor’s Strategy following his post yesterday. The stock has also rallied alongside Bitcoin, which rose above $74,000 today despite the escalating tensions between the U.S. and Iran.

Most Accretive Buy Since November 2024

Market expert Adam Livingston noted this latest Strategy Bitcoin purchase is the most accretive buy to MSTR shareholders since November 2024. He remarked that this is the “true power of STRC.”

He explained that two weeks ago, the company sold $2.40 of MSTR stock for every $1 of STRC, while last week, it sold $0.33 of MSTR stock for every $1 of STRC. “Incredible execution by the Strategy team. Undoubtedly will lead to more demand for MSTR,” he added.

Another expert, Bit Paine, also touched on the shift from MSTR to STRC with this latest purchase, noting that there was a clear trend. “As $STRC scales, the common atm will converge to the much maligned 2025 guidance,” he said.

Source: https://coingape.com/michael-saylors-strategy-makes-largest-bitcoin-buy-this-year-as-mstr-stock-rallies/