Bold Move by Strategy: Another $1.92B Invested in Bitcoin
Giant Corporation Purchases 22,048 Bitcoins for $1.92 Billion, Enlarges Bitcoin Stash to 528,185 Units
Strategy, the tech giant formerly known as MicroStrategy, has once again dived into the world of cryptocurrency, purchasing an impressive 22,048 Bitcoin for approximately $1.92 billion. The purchase, finalized between March 24 and March 30, was disclosed in a filing with the U.S. Securities and Exchange Commission on March 31.
The average price per Bitcoin, including fees and expenses, was a hefty $86,969. This latest acquisition brings Strategy's total Bitcoin holdings to 528,185 BTC, equivalent to about 2.55% of Bitcoin's circulating supply.
As Bitcoin soared upward, Strategy pulled the trigger on this notable purchase, only for the market to experience a subsequent slump, causing the price to drop to around $82,000, momentarily putting Strategy's latest investment in the red.
To fund this massive acquisition, Strategy utilized a combination of stock offerings and preferred stock programs. The company leveraged proceeds from its at-the-market common stock offering, its ATM preferred stock program (STRK), and a new $711.2 million public offering of 10% Series A Perpetual Strife Preferred Stock (STRF).
In the wake of these acquisitions, Strategy's total investment in Bitcoin now stands at $35.63 billion. Since 2020, Strategy has been consistently adding to its Bitcoin reserves almost every quarter. The company's visionary CEO, Michael Saylor, sees Bitcoin as a long-term asset with potential values ranging from $3 million to $49 million per coin in various scenarios.
The Bitcoin market is currently experiencing uncertainty ahead of US President Trump's April 2 tariff announcement, which is expected to detail reciprocal trade tariffs targeting top US trading partners. However, some market observers believe the recent sell-off is merely a "healthy reset," and long-term fundamentals remain unchanged.
Despite the market volatility, Strategy's unrealized profit on its Bitcoin holdings currently stands at over $7.7 billion, representing a considerable gain of more than 21%. However, the company may face tax obligations under the Inflation Reduction Act of 2022, potentially subjecting it to a 15% "corporate alternative minimum tax" on its adjusted earnings.
Insights into Strategy's Funding Methods
Strategically leveraging various funding methods, Strategy has managed to amass a substantial Bitcoin portfolio. Here's a glimpse into some of these methods:
- ATM Equity Offerings: By using an at-the-market (ATM) equity offering, Strategy raised $6.6 billion in Q1 2025, providing flexibility and maximizing capital inflow.
- Convertible Notes: In Q1 2025, Strategy also issued $2 billion in convertible notes, offering investors fixed income and potential equity upside.
- Preferred Stock Issuances: During key acquisitions, Strategy has issued new shares from its preferred stock series to raise capital, such as the $1.31 billion raised in May 2025 through common stock and preferred stock series.
- ATM Proceeds Use: Proceeds from recent ATM offerings, like the STRK and STRF ATMs, have been directed towards Bitcoin acquisitions, including related expenses.
Strategy's recent Bitcoin acquisition of 22,048 more units, costing approximately $1.92 billion, was funded through a combination of stock offerings and preferred stock programs, such as the ATM preferred stock program (STRK) and a new public offering of 10% Series A Perpetual Strife Preferred Stock (STRF). In the past, Strategy has also utilized convertible notes, like the $2 billion issued in Q1 2025, to raise capital for Bitcoin investments. Strategy's successful utilization of various funding methods, including ATM equity offerings and preferred stock issuances, has enabled the company to amass a substantial Bitcoin portfolio worth $35.63 billion as of the current inflationary environment, where companies may face tax obligations under the Inflation Reduction Act of 2022.
