Strategy drops $2 billion in epic bitcoin buying spree
Investing.com -- In one of the most aggressive corporate treasury maneuvers of the year, Strategy Inc. (NASDAQ: MSTR) successfully raised $2.03 billion through targeted stock sales last week, immediately deploying the capital to purchase an additional 24,869 bitcoin.
The massive capital injection was executed over a six-day blitz between May 11 and May 17. Strategy utilized its multi-tiered at-the-market (ATM) offering programs to tap public markets through two primary channels. Strategy sold 19.95 million shares through its STRC program, generating $1.95 billion in net proceeds. The company sold an additional 430,344 shares through its MSTR program, raising $83.7 million.
Strategy deployed $2.01 billion to purchase bitcoin at an average price of $80,985 per coin. As of May 17, the company holds 843,738 bitcoin in its treasury.
The company has invested a cumulative total of $63.87 billion in bitcoin, with an all-time average purchase price of $75,700 per coin.
Strategy maintains $51.5 billion in remaining authorization across its at-the-market programs. The MSTR stock program has $26.3 billion remaining, while STRC has $17.5 billion available. The STRD, STRK, and STRF programs have $4.0 billion, $2.1 billion, and $1.6 billion remaining, respectively.
