**Software Company Strategy Resumes Bitcoin Purchases, Approaching 500K BTC Holdings**
After a brief pause, Strategy, formerly known as MicroStrategy, has jumped back into the Bitcoin market, acquiring nearly 500,000 BTC in total holdings following its latest purchase. This renewed interest in Bitcoin may reflect a growing confidence in the market, potentially encouraging other institutional investors to reconsider their strategies.
**Strategy Boosts Bitcoin Cache By $2 Billion**
The company, which trades on the Nasdaq under the ticker MSTR, announced on Monday that it invested an additional $1.99 billion to acquire 20,356 Bitcoin between February 18 and February 23. During this latest buying spree, the firm founded by Michael Saylor purchased Bitcoin at an average price of $97,514 per token, including all associated expenses and fees. This brings Strategy’s total Bitcoin holdings to approximately 499,096 BTC. With Bitcoin currently priced at $94,156, these holdings are valued at around $46.9 billion. The total cost of the company’s Bitcoin stash is estimated at $33.1 billion, underscoring its long-term commitment to the leading cryptocurrency.
This acquisition coincided with Strategy raising an additional $2 billion through a 0% senior convertible note offering, which netted $1.99 billion after expenses. As previously reported by ZyCrypto, these notes are set to mature on March 1, 2030, and will be unsecured senior obligations, meaning they are not backed by collateral. The $2 billion convertible note offering is part of Strategy’s ambitious “21/21 Plan,” which aims to raise $42 billion in capital over the next three years to further bolster its Bitcoin holdings. The plan includes raising $21 billion through equity and another $21 billion via fixed-income securities. The self-proclaimed “Bitcoin Treasury company” has already secured $20 billion of its $42 billion target, primarily through senior convertible notes and debt. Notably, its recent acquisition of 7,633 BTC occurred in the week ending February 9.
**Strategy’s Pivot To Bitcoin**
Once a relatively obscure software intelligence firm, Strategy began its Bitcoin journey in 2020, seeking to deliver solid returns for shareholders amid the chaos of the pandemic. Then-CEO Saylor, who championed Bitcoin as the best investment at the time, continues to advocate for the cryptocurrency as a hedge against inflation. As the company’s Bitcoin holdings approach the half-million mark, Strategy boasts an unrealized profit of approximately $13.8 billion, according to data from Saylortracker. This positions Strategy as arguably the largest corporate holder of Bitcoin globally, currently owning over 2.3% of Bitcoin’s total supply of 21 million. For context, the pseudonymous creator of Bitcoin, Satoshi Nakamoto, is estimated to hold around 1.1 million BTC. Interestingly, more companies are now following in Strategy’s footsteps, increasingly adopting Bitcoin as a treasury hedge asset.
