Strategy Buys Bitcoin Worth $110M, Pushes Holdings to 582,000 BTC

Strategy has added 1,045 more BTC to its already massive treasury. This news comes from a recent U.S. Securities and Exchange Commission filing. With this latest purchase, the Nasdaq-listed firm continues to lead the charge among public companies embracing Bitcoin as a long-term asset. Strategy Nearly Holds 3% of Bitcoin Fixed Supply As shared in an X post, Strategy bought 1,045 BTC for $110.2 million between June 2 and 8 at an average price of $105,426. This brings its total holdings to 582,000 BTC, worth over $62 billion. The company has spent $40.8 billion overall, with an average cost of $70,086 per coin. The company now has about $21 billion in unrealized gains and owns almost 3% of Bitcoin’s total supply . Strategy keeps buying Bitcoin regularly. Just before the latest purchase, it bought 705 BTC for $75.1 million between May 26 and June 1, at an average price of $106,495. Chairman Michael Saylor has also hinted at further Bitcoin buys . Strategy Funds Bitcoin Latest Buy With Preferred Stock Strategy paid for its recent Bitcoin buys by selling two types of preferred stock: STRK and STRF. Last week, it sold 626,639 STRK shares for $66.4 million and 432,679 STRF shares for $45.8 million. The company still has $20.6 billion worth of STRK and $2 billion of STRF left to sell. It did not sell any of its regular MSTR shares last week, though $18.6 billion is still available under that plan. Strategy’s preferred stock programs are part of a larger blueprint it calls the “42/42” plan. This plan aims to raise $84 billion by 2027 to buy more Bitcoin. This plan initially started as “21/21,” with a $42 billion goal, but was doubled later. Last week, Strategy also launched a new stock, STRD , which pays a 10% yearly dividend. STRD is non-convertible and non-cumulative. In contrast, STRK is a convertible stock with an 8% fixed annual dividend, while STRF is non-convertible and offers a 10% cumulative dividend. A Trend Other Companies Are Following Strategy is not alone in building a bitcoin treasury. A total of 144 companies have adopted this model, with 114 of them publicly traded. Newer entrants include Tether-backed Twenty One, Trump Media, GameStop, and Basel Medical group , joining earlier adopters like Metaplanet and Semler Scientific. Analysts at Bernstein believe these companies, led by Strategy, could collectively add $330 billion in Bitcoin over the next five years. They see a more crypto-friendly U.S. government as a potential driver of this trend. Despite some investor concerns, the Strategy is doing well. Its market cap is $102.4 billion, and it has low debt with no big payments due until 2028. MSTR stock rose 1.5% on Friday to $374.47 and was up 2.3% Monday morning. The post Strategy Buys Bitcoin Worth $110M, Pushes Holdings to 582,000 BTC appeared first on TheCoinrise.com .

Source: The Coin Rise