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Strategy has significantly increased its Bitcoin holdings, surpassing the 500,000 BTC mark. This makes it the largest corporate holder of Bitcoin. On March 24, the company purchased 6,911 BTC for $584.1 million. The average price paid was $84,529 per coin.
With this latest purchase, Strategy now holds a total of 506,137 BTC. The total investment in Bitcoin amounts to $33.7 billion, with an average cost of $66,608 per coin. The company has an unrealized gain of over $10 billion from its Bitcoin investments.
In terms of market share, Strategy owns about 2.55% of the total 19.8 million BTC in circulation. This is a significant amount compared to other institutional investors. For context, the combined holdings of all 12 U.S. spot Bitcoin ETFs amount to around 1.1 million BTC. Strategy’s holdings are also nearly half of what Satoshi Nakamoto, Bitcoin’s creator, is estimated to own.
To fund its Bitcoin strategy, Strategy raised $593 million by selling around two million shares of its class A common stock. This equity offering will support sales of up to $21 billion. The company still has the option to sell an additional $3.57 billion in shares.
