Strategy Continues to Stack Sats, Buys 20K BTC and Raises $2B in New Convertible Notes Offering

Strategy – the Bitcoin (BTC) treasury company formerly known as MicroStrategy – has scooped another 20,356 BTC in its latest cryptocurrency acquisition.

Bitcoin (BTC) treasury firm, formerly known as MicroStrategy, has purchased an additional 20,356 BTC, bringing its total cryptocurrency holdings to 499,096 BTC.

According to a statement from the company on Monday, the latest BTC purchase was made for a total consideration of $1.99 billion, at an average price of $97,514 per BTC. The purchase was disclosed in an 8-K filing with the US Securities and Exchange Commission (SEC) and is stated to have been made between February 18 and 23.

At the time of writing, Monday’s SEC filing with the US SEC now reveals that the company holds a total of 499,096 BTC, valued at $33.1 billion, with an average purchase price of $66,357 per BTC. Notably, the company’s total Bitcoin holdings now account for over 2.3% of the total BTC supply of 21 million.

Today’s BTC purchase follows another major announcement – Strategy’s successful raising of $2 billion through a zero-coupon convertible note offering. The notes, which mature on March 1, 2030, allow every $1,000 in notes to be converted into 2.3072 shares of Strategy’s Class A common stock at a conversion price of $433.43 per share.

After accounting for fees and expenses, Strategy generated net proceeds of $1.99 billion from the offering. The company stated that it will use the proceeds for “general corporate purposes, including the acquisition of Bitcoin and for working capital.”

Notably, today’s note offering is part of Strategy’s ambitious 21/21 Plan. Under this initiative, the company aims to raise up to $42 billion – partly through equity and fixed-income instruments – to finance future BTC acquisitions.

According to today’s announcement, Strategy has already raised nearly $20 billion toward its $42 billion target. Interestingly, Saylor had hinted on Sunday about today’s Bitcoin acquisition.

Following the announcement, Strategy’s stock (MSTR) is trading at $303.50 – up 1.27% in pre-market trading. Over the past year, the stock has surged by an impressive 345%, outperforming Bitcoin, which is up 86.7% over the same period.

Companies Not Deterred By Crypto Market Drawdown

Despite a decline in the total crypto market capitalization – from a peak of $3.90 trillion on December 16 to $3.31 trillion at the time of writing – investors remain optimistic. Many continue to invest in the emerging asset class, buoyed by expectations of favorable regulatory developments following US President Donald Trump’s victory in the November election.

Besides Strategy, other companies like Semler Scientific, Rumble, and Metaplanet have also made major BTC purchases this year. At the time of writing, BTC trades at $95,389, down 0.6% in the past 24 hours.