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CoinTelegraph 2025-03-18 13:15:45

Michael Saylor’s Strategy plans to offer 5M shares to buy more Bitcoin

Business intelligence firm and Bitcoin investor Strategy plans to offer 5 million shares of the company’s Series A Perpetual Strife Preferred Stock and use the proceeds to purchase more Bitcoin. In an announcement, the company said it intends to use the proceeds for general purposes. This includes its working capital and “acquisition of Bitcoin.” However, the company said this is still subject to market and other conditions. According to Strategy, the stock will accumulate cumulative dividends at 10% annually. The company also noted that stockholders would receive dividends on the stock quarterly, starting on June 30, 2025. Strategy said it could buy back all of this stock for cash if the total number of shares left in the market drops below 25% of the issued amount. Strategy makes smallest Bitcoin purchase on record The announcement follows the company’s smallest known Bitcoin purchase . On March 17, the company announced that it purchased 130 Bitcoin ( BTC ) for $10.7 million in cash, at an average price of about $82,981 per BTC. The most recent BTC buy is the company’s smallest amount since its first Bitcoin investment in August 2020. Before the latest purchase, the least amount of BTC bought by Strategy was a 169-Bitcoin purchase made in August 2024. Strategy’s smallest BTC purchase comes amid sentiments that the Bitcoin bull cycle is over. On March 18, CryptoQuant founder and CEO Ki Young Ju said the bull cycle is over and that he’s expecting 6 to 12 months of bearish or sideways price action. Related: Strategy’s Bitcoin stash still up over $7B despite market downturn Strategy’s Bitcoin holdings near 500,000 Since its first Bitcoin investment, the company and its subsidiaries have accumulated 499,226 BTC at an aggregate purchase price of $33.1 billion. The coins were bought at an average price of $66,360 per BTC, including fees and expenses. If the company buys 774 BTC (about $64 million), its total holdings will reach 500,000. This would be 2.38% of the entire Bitcoin supply. The company remains the largest corporate Bitcoin holder in the world and is still up by over $8 billion on its BTC investments despite the recent market downturn. At the time of writing, Strategy’s BTC holdings are worth about $41.1 billion. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

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