Strategy, the Virginia-based software company renowned for becoming the largest corporate holder of Bitcoin, has made significant strides in its investment strategy. Over the past week, the company successfully raised approximately $1.3 billion through equity sales, channeling all funds toward the acquisition of additional digital assets.
Traded on Nasdaq under the ticker symbol MSTR, Strategy revealed that it acquired 17,994 Bitcoin between March 2 and March 8, purchasing each coin at an average price of $70,946. This recent purchase has bolstered Strategy’s Bitcoin holdings to a staggering total of 738,731 Bitcoin, amassed at an aggregate cost of $56 billion and an average purchase price of $75,862 per Bitcoin.
To finance its latest acquisition, Strategy utilized its at-the-market offering program, which enabled the sale of 6.3 million shares of Class A common stock, yielding net proceeds of approximately $900 million. Additionally, the company sold 3.7 million shares of its variable-rate Stretch preferred stock for $377 million. This robust $1.3 billion equity issuance marks one of the most active capital-raising weeks for the company in recent months.
Moreover, Strategy still retains significant capacity under its ATM program for future equity sales. The company has $6.7 billion available for potential MSTR share offerings, along with $20.3 billion accessible for its Strike preferred stock (STRK), and $3.2 billion reserved for the Stretch preferred series.
In a strategic move to enhance its operational flexibility, Strategy amended its Omnibus Sales Agreement with a syndicate of underwriters that includes prominent financial institutions such as TD Securities, Barclays Capital, and Morgan Stanley, among others. The revised agreement allows the company to appoint a second sales agent for any single class of security during pre-market and after-hours trading sessions. This adjustment is designed to facilitate large-volume transactions outside of regular trading hours, providing greater efficiency in managing its growing asset portfolio.
