Michael Saylors Strategy Buys 34,164 BTC, Total Holdings Reach 815,061

Strategy bought 34,164 bitcoin between April 13 and April 19 for about $2.54 billion, according to an 8-K filing with the U.S. Securities and Exchange Commission. 

The company paid an average price of $74,395 per bitcoin for the latest purchase. The new acquisition lifted Strategy’s total bitcoin holdings to 815,061 BTC. 

Michael Saylor, the company’s co-founder and executive chairman, said the company bought its full bitcoin position for about $61.6 billion at an average price of $75,527 per coin, including fees and expenses.

With 815,061 BTC on its balance sheet, Strategy remains the largest public corporate holder of bitcoin. The company’s bitcoin holdings are worth about $61.2 billion based on the figures cited in the report.

The latest purchase also pushed Strategy’s holdings above 3.8% of bitcoin’s fixed 21 million supply. The company’s position remained slightly below its total purchase cost at the time of the update, with the report placing the gap at about $400 million.

Strategy funded the latest bitcoin purchase through at-the-market sales of its Class A common stock, MSTR, and its perpetual preferred stock, STRC. The company has continued to use equity-linked fundraising to support its bitcoin acquisition strategy.

Its preferred stock programs now include STRK, STRC, STRF, and STRD. Their at-the-market programs stand at $21 billion, $4.2 billion, $2.1 billion, and $4.2 billion, respectively. These programs sit alongside Strategy’s “42/42” capital plan, which targets $84 billion through equity offerings and convertible notes for bitcoin purchases through 2027.

STRC plays larger role as Strategy expands plans

STRC has become a larger part of Strategy’s recent funding activity. The preferred stock carries a variable dividend structure and currently offers an annualized rate of 11.5%. On Friday, the company proposed changing the dividend schedule from monthly to twice a month.

Strategy said the proposed change could “lead to reduced reinvestment lag, enhanced liquidity, market efficiency, and increased price stability.” Shareholders will vote on the proposal at the company’s annual meeting on June 8. If approved, the first record date under the updated schedule will be June 30, with the first payment expected on July 15.

Saylor also signaled the purchase before the announcement. In a post shared before the filing, he wrote, “Think even bigger,” after publishing an updated bitcoin acquisition tracker. The latest buy was larger than the company’s previous weekly purchase of 13,927 BTC.

Among public companies using bitcoin treasury strategies, Strategy remains far ahead of peers such as Twenty One, Metaplanet, MARA, Riot Platforms, Coinbase, Strive, and Hut 8.