Strategy is creating a unique category in the market with its approach that positions Bitcoin not as an investment vehicle, but as the backbone of the company. This strategy, shaped under the leadership of Michael Saylor, seizes every opportunity for new purchases, rather than selling during price dips. According to today's announcements, the same scenario unfolded last week: Strategy was on the buying table while Bitcoin was trading in the $74,000-$76,000 range.
Strategy bought 34,000 Bitcoin
Strategy bought 34,164 BTC in the week of April 13-19. The amount spent was $2.54 billion, with an average purchase price of $74,395. This is the largest weekly purchase since November 2024. Total Bitcoin holdings reached 815,061 BTC. Total cost was $61.6 billion, with a current market capitalization of approximately $61.2 billion. The company is currently operating at a loss of approximately $400 million. Saylor has long ignored such short-term deviations; the strategy plays on Bitcoin's supply, not its daily price. Indeed, the average price of $74,395 during the week the purchases were made is quite close to Bitcoin's current level of $74,985; the company's position has not yet turned profitable, but it is close to the threshold.
815,000 BTC represents 3.8% of Bitcoin's total supply. A single institutional player holding such a large share directly affects the market's supply-demand balance. Controlling a position of this scale elevates Strategy to a different category than an ordinary institutional investor.
The financing for the purchases comes from share sales. MSTR shares and the STRC perpetual preferred stock program are two prominent instruments. Last week, the company raised $2.1 billion solely through STRC. The approximately 11.5% annual yield offered by STRC is a key factor in attracting investors. There is also a change in the dividend structure: a shift from monthly payments to bi-weekly payments is planned. The company anticipates that this step will increase liquidity, contribute to price stability, and offer investors a more flexible structure. The decision will be finalized at the general assembly on June 8th.
42/42 plan
The growth plan is also ongoing. Under the strategy known as "42/42," the goal is to raise a total of $84 billion by 2027, with a large portion of this fund being directed towards direct Bitcoin purchases. The company also has the capacity to sell billions of additional shares, along with expanding existing ATM programs.
The Bitcoin price fluctuated between $73,854 and $76,165 this week. BTC recorded a 5.92% increase on a weekly basis and a 6% increase in its 30-day performance. Currently trading around $74,985, the price is just above Strategy's average purchase cost.
Although the share price has fallen sharply from its 2025 peaks, it has gained over 27% in value in the last week. During the same period, Bitcoin increased by 9%.
