5 months ago
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- Michael Saylor’s Strategy bought $2 billion worth of Bitcoin, bringing its total holdings close to 500,000 BTC.
- The purchase was funded through a $2 billion convertible note offering, part of the company’s $42 billion “21/21 Plan.”
- Strategy now holds an unrealized profit of $14.8 billion, with BlackRock increasing its stake to 5%.
Michael Saylor’s Strategy (formerly MicroStrategy) just went on another Bitcoin shopping spree—this time, dropping a staggering $2 billion to push its total holdings just shy of 500,000 BTC.
“We now hold 499,096 BTC, acquired for $33.1 billion at an average price of $66,357 per Bitcoin,” Saylor announced in a Feb. 24 X post.
Where’s the Money Coming From?
This latest buy wasn’t out of pocket—it was fueled by a $2 billion senior convertible note offering.
- The notes have a 0% coupon and mature in 2030—meaning investors don’t get interest, but they can convert them to shares.
- Each $1,000 note converts to 2.3072 shares of Strategy’s stock at a price 35% higher than the market rate.
- Net proceeds totaled $1.99 billion after fees, all earmarked for Bitcoin acquisition and general corporate use.
This aggressive funding move is part of Strategy’s larger “21/21 Plan”, which aims to raise $42 billion over three years to keep stacking Bitcoin.
So far? They’ve already locked in $20 billion.
Unrealized Gains & Institutional Attention
Despite posting a $670 million net loss in Q4 2024, Strategy is sitting on a massive unrealized profit—roughly $14.8 billion on its Bitcoin holdings.
And institutions? They’re paying attention.
- Twelve North American states hold $330 million in Strategy stock through pension funds or treasuries.
- BlackRock just upped its stake to 5%, strengthening its grip on the company.
With Bitcoin pushing toward $100K and Strategy nearing 500,000 BTC, one thing’s clear—Saylor isn’t slowing down anytime soon.
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