In a fresh move to expand its Bitcoin holdings, Strategy Inc. has returned to selling common stock after briefly relying on preferred shares.
According to Bloomberg, the company led by Michael Saylor acquired around 1,031 Bitcoin between March 16 and March 22, spending roughly $76.5 million.
The latest purchase was fully financed through at-the-market sales of the company’s Class A common stock. This marks a shift from the previous week, when Strategy raised $1.2 billion using perpetual preferred shares, branded as its “Stretch” offering.
That earlier raise funded one of the company’s biggest Bitcoin buys so far this year.
Why the funding mix matters
The way Strategy funds its Bitcoin purchases has direct consequences for investors. Selling common stock dilutes existing shareholders’ ownership stakes.
On the other hand, issuing preferred shares avoids dilution but adds a fixed financial burden, effectively locking the company into a high-cost obligation, the report says, at around 11.5%.
With this latest purchase, Strategy’s total Bitcoin holdings have crossed 762,000 coins, valued at approximately $54 billion. The company’s average acquisition price stands near $75,700 per Bitcoin, which is still above current market levels, hovering around $70,000.
Managing bitcoin
Strategy (formerly known as MicroStrategy) is a company focused on managing Bitcoin assets and providing software solutions for businesses. The company offers two main products:
Strategy Mosaic: A semantic layer that helps businesses integrate and manage data from different sources, allowing them to apply consistent logic and gain insights using various business intelligence tools.
Strategy One: An AI-driven analytics platform that helps companies create and share insights efficiently, supporting decision-making at scale through dashboards and embedded analytics.
