Saylor's Strategy delivers on bigger weekly purchase call with 10,100 BTC buy

Source Cryptopolitan

Strategy logged another larger BTC purchase, this time allocating over $1B for its weekly treasury expansion. The new addition followed Michael Saylor’s X message on preferring “bigger orange dots,” representing larger purchases. 

Strategy tapped over $1B for its weekly BTC purchase, acquiring 10,100 BTC after a few weeks of smaller inflows. The latest purchase is bigger than the entire treasury of Metaplanet. 

During a volatile week, Strategy acquired BTC at an average price of $104,080. The purchase followed a pre-announcement by Michael Saylor, in spite of the short-term volatility. 

Saylor remains the most relevant corporate BTC accumulator

The latest purchase raised the average purchase price for Strategy to $70,666, with the total BTC treasury expanding to 592,100 BTC.

In total, Strategy has already spent over $41.8B for its treasury, remaining the leader in total holdings among corporate treasuries. 

Strategy still lags behind the holdings of BlackRock’s ETF, extending above 669K BTC. ETFs remain the more active and faster buyers, but the wallets are more volatile and also have days of rapid outflows. Saylor, on the other hand, is committed to long-term holding. 

In terms of BTC per share, Strategy is also ahead of other corporate buyers, with 20X the coins per share compared to Metaplanet

As usual, Saylor’s moves inspired other corporate buyers, increasing both the treasuries and the number of companies announcing acquisitions. It has also spilled over into altcoins, with small companies aiming to boost their shares by announcing SOL or XRP treasuries.

Still, Strategy remains the undisputed leader with the most significant exposure to BTC. 

Bitcoin purchases help MSTR stabilize

For companies building BTC treasuries, one of the effects is a positive move for the stock price. In the case of MSTR, the shares recovered above $382, retaining the higher baseline just under $400. 

Strategy acquires 10,100 BTC after Michael Saylor hints at bigger weekly purchase
MSTR shares recovered close to $400, though still waiting for a breakout to new highs. | Source: Google Finance

MSTR is closely watched for a potential recovery and a stronger rally, as it now trades below the all-time high of $473.83 achieved on November 20, 2024. MSTR has seen lower volumes in the past few weeks, though the shares are still seen as outperforming. MSTR has also acquired partial meme status, with traders going long in expectation of ongoing rallies. 

Strategy is also making its structure more complex, with additional sales of convertible perpetual stock. Its BTC treasury approach continues to face criticism for creating systemic risk, which may spill over to the stock market.

The latest purchase followed three rounds of share sales, with no new MSTR issued. Saylor raised $48.4M from STRK shares, and another $30M from STRF. The latest issue of preferred stock also means no new dilution for MSTR holders. Strategy has over $18B to deploy through common stock issuance, though the last few operations happened through preferred stock sales.

Previously, Strategy also completed the round of its new convertible Stride (STRD) shares with 10% dividend, raising over $979M. The round allowed the firm to accelerate its buying, after two relatively slow weeks of BTC additions. 

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