Strategy (NASDAQ:MSTR) just went all-in on Bitcoinagain. The company snapped up another 20,356 BTC for nearly $2 billion, paying an average of $97,514 per coin. That brings its total holdings to a staggering 499,096 BTC, accumulated at an average of $66,357 per Bitcoin. The purchase was backed by a fresh $2 billion convertible note offering, part of Strategy’s aggressive 21/21 Plan to raise $42 billion over three years for more Bitcoin buys. The notes, carrying a 0% coupon and maturing in 2030, signal that Strategy isn’t slowing down on its high-stakes crypto bet anytime soon.
Even after reporting a $670 million net loss in Q4 2024, the company is sitting on an unrealized $14.8 billion gain on its Bitcoin reserves. It has already secured $20 billion of its capital target, mainly through debt and equity sales, fueling its relentless Bitcoin accumulation. Institutional investors are taking noticeBlackRock just upped its stake in Strategy to 5%, signaling growing confidence in its Bitcoin-first strategy.
Meanwhile, traditional finance is warming up to Strategy’s playbook. Twelve U.S. states now hold a combined $330 million in Strategy stock through their pension funds and treasuries. As Bitcoin adoption accelerates, the firm is positioning itself as the ultimate corporate Bitcoin whalerewriting the rules of how public companies allocate capital in the digital age.
This article first appeared on GuruFocus.
