Strategy Snaps Up $1.57B Of Bitcoin, Narrows Gap With BlackRock’s IBIT

Strategy bought its Bitcoin after selling 11.8 million of STRC preferred shares and common stock.

Strategy Inc. (MSTR) has purchased 22,337 Bitcoin for about $1.57 billion last week, marking one of its largest acquisitions ever.

According to a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), Strategy raised roughly $1.58 billion through equity sales, including 11.8 million STRC preferred shares and additional common stock, to fund the acquisition. 

Strategy said it bought the coins at an average price of $70,194 per BTC, bringing its total Bitcoin holdings to 761,068 BTC. The purchase is about 3.7 times larger than the company’s recent four-week average buying pace of roughly 6,000 BTC, making it one of the largest weekly Bitcoin acquisitions in the firm’s history.

Even after the latest purchase, Strategy still trails BlackRock’s iShares Bitcoin Trust (IBIT), which holds roughly 19,000 more BTC than the company.

Bitbo statistics showed that Strategy has around 761,068 BTC, which is about 3.6% of the total 21 million BTC that are available. The company's Bitcoin reserve is worth around $54 billion as per the cryptocurrency’s current price.

BlackRock's IBIT ETF now has about 780,162 BTC, which is a little more than Strategy's holdings and makes up about 3.7% of Bitcoin's maximum supply. The assets are valued at about $57.5 billion.

Get updates to this story developing directly on Stocktwits.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<