Strategy has continued to strengthen its Bitcoin-focused treasury strategy, announcing the purchase of an additional 13,627 BTC for a total value of approximately $1.25 billion, according to a recent Form 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC). The acquisition was executed between January 5 and January 11, with an average purchase price of $91,519 per Bitcoin.
Following this latest transaction, Strategy’s total Bitcoin holdings have increased to 687,410 BTC, now valued at roughly $62.3 billion based on current market prices. The company’s total acquisition cost stands at an estimated $51.8 billion, translating to an average purchase price of $75,353 per BTC. At current levels, this represents approximately $10.5 billion in unrealized gains.
The purchase was funded through the sale of Class A common shares (MSTR) and perpetual preferred shares known as Stretch (STRC). Over the past week, Strategy sold more than 6.8 million MSTR shares, raising about $1.13 billion, alongside 1.19 million STRC shares, generating an additional $119.1 million. Despite these sales, the company retains significant remaining capacity under its at-the-market (ATM) issuance programs.
With this move, Strategy now controls over 3% of Bitcoin’s fixed 21 million supply, further reinforcing its position as the world’s largest corporate holder of BTC. However, shares of Bitcoin treasury-focused companies, including Strategy, have recently faced pressure as the market capitalization to net asset value (mNAV) ratio has compressed. Strategy’s mNAV is currently estimated at around 0.81, indicating the stock is trading below the value of its underlying assets.
Last week, MSTR shares also experienced heightened volatility following MSCI’s decision not to immediately remove digital asset-holding companies from its global indexes, adding another layer of uncertainty for investors.
This article is for informational purposes only and reflects a personal blog-style analysis. It does not constitute investment advice. Investors should conduct their own research and are solely responsible for their investment decisions.
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