Strategy, a prominent investment firm, has announced a notable increase in its Bitcoin holdings, acquiring an additional 26,695 BTC in the past month. This latest purchase follows a similar acquisition of 25,370 BTC in the preceding month, underscoring the company’s continued commitment to the cryptocurrency.
The firm’s Bitcoin acquisition strategy has been a key focus, with notable purchases reported in April and May. Though, Strategy notably skipped its scheduled Bitcoin purchase in the first week of July, a move that followed a similar pause in the first week of April.
This temporary slowdown in direct Bitcoin purchases coincides with Strategy’s recent move to upsize its Series A perpetual stretch preferred stock (STRC) offering. The offering was increased to $2.521 billion, a substantial rise from the initial $500 million target. The STRC is priced at $90 per share, with the issuance and sale expected to finalize on Tuesday, pending standard closing conditions.
The STRC program,along with other similar Strategy offerings like the Series A perpetual strike preferred stock (STRK),serves as an equity-raising mechanism.This structure enables the company to progressively sell newly issued shares, with the proceeds earmarked for further Bitcoin acquisitions. Michael Saylor, co-founder of Strategy, recently highlighted STRC as a foundational element of the company’s “Bitcoin defense department” on social media.
