**Saylor’s $46B Bitcoin Adventure: How Strategy’s Debt-Driven Buying Spree Could Transform Corporate Crypto Engagement. BlackRock’s 5% Stake and Support from 12 States Fuel Saylor’s Bold Bitcoin Accumulation Strategy.**
Michael Saylor recently hinted in a post that his company is gearing up to resume its Bitcoin purchases. This announcement, which included a price chart, came after a brief one-week pause following their last acquisition on February 10, when they added 7,633 BTC for $742 million. As of late March, Strategy now holds an impressive 478,740 Bitcoin, valued at around $46 billion. Notably, these holdings are currently worth 47.7% more than their total purchase price.
Rebranded as Strategy in February, the company is actively pursuing its “21/21” plan, a well-structured strategy aimed at channeling capital into Bitcoin. On February 20, they launched a $2 billion convertible note offering—a type of debt that can be converted into equity—to support further acquisitions. Saylor has been vocal about leveraging financial tools like debt issuance to bolster Bitcoin reserves, with the goal of creating long-term value for shareholders. He remarked, “We are probably getting a little too de-levered and we’d actually like to build more intelligent leverage.”
Major institutions are showing strong confidence in Strategy’s approach. BlackRock, the world’s largest asset manager with $11.6 trillion in assets, revealed a 5% stake in the company on February 6. Additionally, twelve U.S. states have invested in Strategy through their pension or treasury funds. California’s State Teachers’ Retirement Fund leads the way with an $83 million investment, followed closely by the California Public Employees’ Retirement System at $76.7 million. Other states involved include Texas, Florida, and Illinois.
While some critics raise concerns about the risks associated with concentrated Bitcoin investments, Strategy’s method has drawn comparisons to early corporate adopters of groundbreaking assets. The company’s shift towards a Bitcoin-focused identity—evident in its rebranding and marketing—highlights its operational priorities. Analysts at ETHNews point out that Strategy’s ability to secure debt financing amid market fluctuations reflects a strong institutional trust in its strategy.
As Bitcoin’s price hovers near record highs, all eyes are on Strategy’s next moves. The firm’s use of convertible notes allows it to postpone equity dilution while funding its purchases. With over $2 billion raised in its latest offering, the company seems well-positioned to continue its Bitcoin accumulation, solidifying its status as the largest corporate holder of the cryptocurrency. ETHNews anticipates more updates as the 21/21 plan unfolds through 2025.
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