Strategy Resumes Bitcoin Purchases, Acquiring $742.2 Million in Digital Asset
Tysons Corner, VA - Strategy, the former MicroStrategy Inc., has announced the acquisition of $742.2 million in Bitcoin over the past seven days, resuming weekly purchases initiated in October.
Key Highlights:
* Strategy purchases 7,633 Bitcoin at an average price of $97,255.
* Total Bitcoin holdings now exceed $47 billion, representing over 2.5% of all Bitcoin tokens.
* Strategy aims to raise $42 billion for Bitcoin purchases through stock sales and fixed-income securities.
* Company reports a $670.8 million fourth-quarter loss due to Bitcoin impairment charge.
Convertible Arbitrage Strategies Drive Demand
Hedge funds are driving demand for Strategy's convertible bonds and shares, seeking arbitrage opportunities.
"We will continue to pursue leverage and performance for Bitcoin investors through strategic capital markets strategies," said Michael Saylor, Strategy's co-founder and Chairman.
Outlook
Strategy anticipates profitability in the current quarter due to new accounting guidelines that reflect Bitcoin's fair value on the income statement.
While Strategy shares have faced a slight decline in recent weeks, they remain up 13% year-to-date.