Strategy Boosts Bitcoin Reserve with Over 10K BTC Acquisition Funded by STRD
Firm secures over $1 billion from preferred stock and share sales to increase its Bitcoin assets.
Highlights
- Strategy (MSTR) has now amassed a total of 592,100 BTC, worth approximately $63.3 billion, due to its recent purchases.
- The funding was sourced from a $979.7 million STRD offering and sales of ATM shares related to STRK and STRF preferred stocks.
Disclaimer: The analyst behind this report is a shareholder in Strategy (MSTR).
Strategy (MSTR) has broadened its Bitcoin holdings further with the acquisition of an additional 10,100 BTC, primarily financed by its latest preferred stock offering, STRD.
This purchase elevates Strategy’s Bitcoin reserves to 592,100 BTC, approximately valued at $63.3 billion, with an average acquisition price of $70,666 per Bitcoin.
To fund this acquisition, the firm has executed a 10% Series A Perpetual Stride Preferred Stock (STRD) issuance, targeted at long-term investors in search of high-yield, fixed-income options. This issuance encompassed 11.76 million shares and tallied around $979.7 million after fees and costs.
This latest Bitcoin purchase was financed through a mix of proceeds from the STRD issuance and an at-the-market (ATM) share sale initiative, which comprised sales from its other preferred stock classes (STRK and STRF). Strategy has raised approximately $TKTK from these equity offerings between June 9 and June 15.
Currently, MSTR shares are trading up 1.60% in pre-market trading, while Bitcoin is stabilizing near $107,000.
