On March 31, Bitcoin evangelist Michael Saylor’s Strategy (Nasdaq: MSTR), formerly MicroStrategy, announced the acquisition of 22,048 Bitcoin worth $1.92 billion.
The company said that its Bitcoin purchases were made using proceeds from the common MSTR at-the-market (ATM), preferred STRK ATM, and STRF stock offerings.
The MSTR was trading at $282, the STRK stock was trading at $84, and the STRF stock was trading at $92 in pre-market hours.
The recent purchase has been made between March 24 and March 30, with one Bitcoin costing the company $86,969.
As of March 30, Strategy now holds 528,185 Bitcoin worth around $35.63 billion, acquired at approximately $67,458 per Bitcoin.
Strategy, which has been acquiring Bitcoin since 2020, is converting its balance sheet into a Bitcoin reserve. The company is the world’s largest corporate holder of Bitcoin.
In contrast, the world’s largest Bitcoin mining company, MARA Holdings, which holds only 46,374 Bitcoin, is the world’s second-largest corporate holder of Bitcoin.
Nonetheless, the Bitcoin miner doesn’t want to be left far behind and has announced a $2 billion stock offering to acquire additional Bitcoin.
On March 28, MARA Holdings filed an 8-K filing with the Securities and Exchange Commission (SEC) in which it mentioned that it was partnering with investment giants such as Barclays Capital, BMO Capital Markets, and Cantor Fitzgerald & Co., to sell common stocks, par priced at $0.0001 per share, worth $2 billion.
As per Kraken’s price feeds, Bitcoin was trading at $82,318.33 at press time as it recorded a weekly decline of more than 5%.
