‘Stretch the orange dots’: Michael Saylor’s Strategy buys another 22,337 bitcoin for $1.6 billion as STRC boosts acquisitions
MicroStrategy acquired 22,337 BTC for $1.6 billion, fueled by proceeds from stock sales, particularly its Stretch preferred stock (STRC).Summary
MicroStrategy (MSTR) significantly increased its Bitcoin holdings by acquiring an additional 22,337 BTC for approximately $1.57 billion between March 9 and March 15. This acquisition, the company’s fifth-largest to date, brings its total Bitcoin treasury to 761,068 BTC, worth around $56 billion. The purchases were funded through at-the-market sales of its Class A common stock (MSTR) and perpetual Stretch preferred stock (STRC). Notably, STRC has become a key driver of these acquisitions, with recent sales generating a record amount of BTC. Despite the increased holdings, the company currently faces unrealized losses due to prevailing market levels. MicroStrategy’s strategy, spearheaded by Michael Saylor, involves leveraging various stock offerings to accumulate Bitcoin, aiming for a total capital raise of $84 billion through 2027.
(Source：The Block)