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1,045 Bitcoins Bought — What Does Strategy Know?
Strategy’s latest massive Bitcoin buy has the crypto world buzzing. Is this a bold move, or do they have insider knowledge about what’s coming next?
According to documents filed with the Securities and Exchange Commission (SEC) on June 9, Strategy purchased bitcoin at an average price of $105,426 each. The company now holds 582,000 BTC in its reserves, acquired for a total of $40.79 billion at an average price of about $70,086 per Bitcoin.
The purchase comes as no surprise — Strategy co-founder and executive chairman Michael Saylor had already hinted at the deal on June 8. He has turned bitcoin accumulation into a true art form.
Bitcoin rushes to records again Strategy’s timing is, admittedly, pretty good. Bitcoin is trading at $107,750, less than 4% off the all-time high of $111,000 recorded in May. Is the company buying at the peak? Or does that peak only seem like a peak?
The company’s aggressive approach echoes the sentiments of financial educator Robert Kiyosaki, best known for ”Rich Dad Poor Dad.” Kiyosaki has been a vocal advocate for bitcoin as a hedge against inflation and frequently urges investors to consider digital assets as part of a strategic portfolio. His bullish stance on cryptocurrency aligns with Strategy’s relentless accumulation, highlighting a growing trend among influential financial thinkers and major corporations alike.
Strategy clearly has no intention of stopping. The company recently announced a $1 billion stock offering — four times the originally announced $250 million. Where will the money go? That’s right — to buy more bitcoin and cover corporate expenses.
A new tool for investors An interesting detail: the company is issuing 11.76 million shares of Series A Perpetual Stride preferred stock at $85 each. These securities promise a non-cumulative dividend of 10% — an attractive option for institutional investors seeking yield.
After deducting underwriting expenses, Strategy expects to net about $979 million. That’s a solid amount to further build its bitcoin position.
Strategy demonstrates enviable consistency in its bitcoin accumulation. Nine consecutive weeks of purchases is no longer an impulse, but a well-calibrated plan. The company has effectively turned into a Bitcoin ETF, only with much more aggressive tactics.
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