In a world where fortunes are made and lost with the flick of a digital switch, the treasury firm known as Strategy has once again danced with destiny, acquiring a staggering 1,045 Bitcoin for the princely sum of approximately $110.2 million. This revelation, akin to a plot twist in a grand novel, was unveiled in a filing with the U.S. Securities and Exchange Commission on the fateful day of June 9.
With an average purchase price of $105,426 per Bitcoin, one might wonder if the firm has taken leave of its senses or if it possesses a crystal ball revealing the future of cryptocurrency. Now, with this latest acquisition, the company’s total Bitcoin holdings have swelled to a jaw-dropping 582,000 BTC, a treasure trove worth over $62 billion at current market prices. Yes, you read that right—billion with a ‘B’! 💸
This audacious acquisition, conducted between June 2 and June 8, was financed through the proceeds of Strategy’s recent $1 billion preferred stock offering. Ah, the sweet smell of capital! The company issued 11.76 million shares of its 10% Series A Perpetual Preferred Stock at $85 per share, all in the noble pursuit of further Bitcoin purchases and, of course, the usual corporate expenses. One can only imagine the boardroom discussions filled with fervor and perhaps a touch of madness.
In a twist that would make even the most seasoned novelist chuckle, co-founder Michael Saylor did not sell a single share of company stock to fund this Bitcoin bonanza. Instead, the entire amount was raised through at-the-market sales of Strategy’s STRK and STRF preferred stock offerings. A true testament to the art of financial wizardry! 🎩✨
Consistent BTC Accumulation
Lo and behold, this marks Strategy’s ninth consecutive week of Bitcoin accumulation! Co-founder Michael Saylor, ever the harbinger of good news, hinted at this latest buy in a social media post on June 8, just before the official filing. At that time, Bitcoin was trading at around $107,640, tantalizingly close to its all-time high of $112,000 recorded in the glorious month of May.
The firm embarked on its Bitcoin accumulation strategy back in August 2020 with a modest $250 million investment, and since then, it has amassed a staggering 2.75% of all Bitcoin that will ever be mined. One can only marvel at the audacity of such ambition! Strategy’s market cap has skyrocketed from a mere $1.2 billion in 2020 to an astonishing $104.6 billion today. Talk about a rags-to-riches tale! 📈
This strategy aligns seamlessly with a burgeoning trend among public companies that are now using Bitcoin as a strategic asset. The interest from corporations in digital assets is not merely a passing fad; it is a rising tide, with more and more public companies allocating Bitcoin to their balance sheets, as revealed in a recent report from Binance.
Other companies, such as Japan’s Metaplanet and France’s The Blockchain Group, have also joined this digital gold rush, witnessing their stock prices soar after embracing Bitcoin-centric treasury models. It seems the world of finance is not just changing; it is undergoing a revolution, and one can only watch in awe as the drama unfolds! 🎉
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2025-06-09 17:14