Thomas Daniels
Since rebranding, business analytics firm Strategy has made its first Bitcoin acquisition, paying $742.4 million for 7,633 BTC.
The business acquired the Bitcoin at an average price of $97,255 per token, per a filing with the U.S. Securities and Exchange Commission (SEC). With this most recent investment, Strategy currently has 478,740 BTC in total, which is worth more over $46 billion.
About $31.1 billion has been spent by Strategy to acquire Bitcoin from the start of its acquisition strategy in 2020. However, after removing “Micro” from its name last week, this is the company’s first Bitcoin purchase under its new moniker. The rebranding highlights its position as the world’s largest corporate Bitcoin holder and represents a more focused business approach. In keeping with its “21/21” ambition, which aims to acquire a further $42 billion in Bitcoin by 2027, Strategy also unveiled new orange logo with a Bitcoin theme in conjunction with the name change.
The most recent Bitcoin acquisition comes after $670 million in impairment losses due to Bitcoin were revealed in the company’s Q4 2024 earnings report. The company’s at-the-market (ATM) stock program recently approved a 30-fold increase in share offers, demonstrating that plan’s shareholders are still supportive of CEO Michael Saylor’s aggressive Bitcoin plan in spite of these difficulties.
