Strategy splashes $2.01B on largest weekly purchase since late April

Source Cryptopolitan

Strategy returned with another large-scale purchase, adding 24,869 BTC to its treasury. The new purchase arrives a week after Strategy skipped its usual buying. 

Strategy acquired BTC at an average price of $80,985, just above the coin’s current market price. Despite the week’s active buying, BTC dipped below the $77,00 range once again. Strategy spent $2.01B on its latest weekly purchase, the biggest since April 20. 

Strategy holds BTC at an average price of $75,700 so far, spending $63.87B for almost non-stop weekly purchases. The company already holds 834,738 BTC, far surpassing BlackRock’s stash of around 738K BTC. 

The latest purchase is part of Strategy’s goal of proving the viability of its playbook. 

Strategy achieves robust financing through STRC

Strategy managed to sell 19,519,801 STRC preferred shares, valued at $1.94B. The rest of the weekly purchase was financed through MSTR common stock issuance. Strategy raised $83.7M from MSTR common stock. 

The STRC preferred stock was showing increased interest, as more of the shares traded above $100. After the recent sale, STRC fell to $99.20, 80 cents below its ATM price. 

Strategy returns with another large weekly BTC purchase
STRC had one of its most successful weeks in history, with the biggest share of tokens trading above $100. Strategy sold the most STRC since the week of April 13-19. | Source: Bitcoinquant

In the past week, $2.2B in STRC traded above $100, allowing Strategy to make new sales. The past week’s STRC sales were close to the records from March and April, as STRC still has an ex-dividend date in the middle of the month. STRC had its second-most active week after the period of April 13-19. 

In the future, Strategy may spread out STRC selling, but the recent large weekly purchase reflected demand for the 11.59% dividend. 

Despite the ongoing dilution, MSTR traded at $177.72, near its higher range for the past month. The previous warnings of dilution or higher dividend obligations have not stopped Strategy from expanding its playbook.

Will Strategy sell BTC? 

Strategy has also shifted its previous plan of never selling BTC. The playbook may continue with some BTC selling to cover dividends, while remaining confident of an even larger BTC bull market. 

There are no predictive metrics for the eventual weekly sales of BTC from Strategy. The company has reassured traders that it can cover all obligations for its preferred stocks. 

Currently, prediction markets offer a 33% probability of selling BTC by the end of May, and a much higher 87% probability for selling by the end of the year.

Strategy already holds 4.02% of all BTC in circulation, becoming the only entity with that degree of control over BTC supply. 

Strategy has also started repurchasing some of its outstanding debt for 2029, expected to spend $1.5B on redemptions, as Cryptopolitan reported earlier. The company still depends on a BTC bull market to achieve its goal of sustainability, while holding $2.25B in its cash reserves for short-term obligations. 

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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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