Strategy has acquired 15,355 Bitcoin for $1.4 billion, increasing its total holdings to 553,555 BTC. Funded through stock sales, this acquisition reflects a significant investment strategy amid rising Bitcoin prices, resulting in unrealised gains of about $15 billion.
Strategy, which holds the title as the largest corporate Bitcoin holder, made waves recently with its acquisition of 15,355 Bitcoin, spending approximately $1.4 billion. This purchase was completed in just a week, between April 21 and April 27, and the average price settled at about $92,737 per coin.
This hefty acquisition has now raised Strategy’s total Bitcoin stash to an impressive 553,555 BTC, which based on current prices, amounts to roughly $52.7 billion. As of April 27, Bitcoin was trading at around $95,300, which has seen the value of Strategy’s investment soar significantly.
Interestingly, this big purchase was funded through stock sales. The company raised around $1.4 billion by offloading 4.02 million shares of its Class A common stock and about 435,069 shares of its Series A preferred stock, as revealed in a recent SEC filing.
Bitcoin’s current market uptick has pretty much turbocharged the value of Strategy’s current holdings. Originally, their total investment was about $37.9 billion at an average cost of $68,459 per Bitcoin, which they are now realising up to around $15 billion in unrealised gains. Quite a turnaround for them.
This latest acquisition marks the third consecutive week in which Strategy has boosted its Bitcoin reserves. Just the week before, they reported buying 6,556 BTC during that ending April 20. The ongoing Bitcoin demand seems quite promising.
Additionally, it’s worth mentioning a recent post by Michael Saylor on Sunday, where he detailed Strategy’s Bitcoin portfolio tracker, a move often interpreted by analysts as an indication of something major happening in the acquisition front.
As for the stock market response, shares of Strategy (MSTR) climbed 1.6% in pre-market trading on Monday, following a 5% increase from the previous Friday, indicating investor optimism in light of these substantial moves.
