Strategy — the enterprise analytics firm formerly known as MicroStrategy — has announced the acquisition of an additional 10,000 Bitcoin for approximately $780 million, bringing its total holdings to over 542,000 BTC and further extending its position as the world’s largest publicly traded corporate Bitcoin holder by a significant margin.
The purchase was funded through a combination of proceeds from the company’s latest convertible note offering and an at-the-market equity program. Co-founder and executive chairman Michael Saylor announced the acquisition on social media with his trademark brevity: “Strategy acquires 10,000 BTC for ~$780M at ~$78,000/BTC.”
The company’s Bitcoin yield metric — its preferred KPI measuring BTC per diluted share — increased by 1.2% following the announcement, reaching a new all-time high. Strategy has now acquired Bitcoin in every calendar quarter since August 2020 without exception.
Wall Street analysts remain divided on the firm’s approach. Bulls point to the BTC appreciation that has outpaced dilution from share issuances, arguing the strategy has created enormous shareholder value since inception. Bears argue the firm is levered to a single volatile asset and that its premium to NAV — currently around 1.6x — is unsustainable.
Strategy’s MSTR shares rose 4.2% on the day of the announcement, outperforming Bitcoin itself. The company’s total Bitcoin portfolio is now valued at approximately $42 billion at current prices.
