Strategy’s Significant Bitcoin Acquisition
In a significant move this week, Strategy, previously known as MicroStrategy, amplified its Bitcoin assets by acquiring 4,980 bitcoins, valued at approximately $5.319 billion. The funds for this purchase were generated through the sale of its Class A common stock, convertible preferred stock, and perpetual preferred stock in transactions executed via an at-the-market (ATM) program.
Recent Stock Transactions
Just last week, Strategy divested around $5.195 billion by selling 1,354,500 shares of its MSTR stock. The company confirmed that as of June 29, there remains an impressive $18.1 billion worth of MSTR stock that can still be issued and sold under the existing plan.
Preferred Stock Sales
Additionally, Strategy reported generating $28.9 million through the sale of 276,071 shares of its STRK preferred stock, with $20.5 billion still available for issuance from that class of stock. Likewise, the company raised $29.7 million from selling 284,225 shares of STRF stock, leaving $19 billion available under the same issuance plan.
Future Plans and Initiatives
The perpetual preferred stocks STRK and STRF each have ATM issuance strategies in place, with substantial supplemental plans totaling $21 billion each. This is part of the broader “42/42” initiative, which targets raising $84 billion through the issuance of equity and convertible notes specifically aimed at facilitating further Bitcoin acquisitions. This plan was initially set at $42 billion but has been expanded following the anticipated exhaustion of its equity component, with a target completion date set for 2027.
