TLDR:
MSTR boosts Bitcoin holdings to 717,131 BTC after $168.4M buy.
Strategy Inc. adds 2,486 BTC, now holding 717,131 BTC in total.
MSTR funds Bitcoin purchases through equity programs and stock sales.
MSTR’s Bitcoin holdings reflect $5.7B in unrealized losses.
MSTR enhances security, focusing on quantum computing risks while accumulating Bitcoin.
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Strategy Inc. (MSTR) advanced after expanding its Bitcoin treasury with a $168.4 million purchase. The stock closed at $113.00, up 8.01. MSTR now holds 717,131 BTC, reinforcing its position as the largest corporate Bitcoin holder.
Strategy Inc, MSTR
Bitcoin Holdings Reach 717,131 BTC After $168.4 Million Purchase
MSTR acquired 2,486 BTC between February 9 and February 16, according to an SEC filing. The company paid an average price of $67,710 per Bitcoin. Consequently, total holdings increased to 717,131 BTC.
The company has spent about $54.5 billion to accumulate its Bitcoin position, including fees. It bought its entire stack at an average price of $76,027 per coin. However, the holdings currently reflect about $5.7 billion in unrealized losses.
In supply terms, MSTR controls more than 3.4% of Bitcoin’s 21 million coin cap. This concentration underscores its treasury-focused strategy. Meanwhile, the latest buy marked its eighth consecutive weekly Bitcoin acquisition.
Capital Raising Programs Support Ongoing Accumulation
MSTR funded the recent purchase through at-the-market equity programs. It sold 660,000 Class A shares for roughly $90.5 million. Additionally, it issued 785,354 STRC preferred shares for about $78.4 million.
As of February 16, MSTR retains $7.88 billion in remaining MSTR share capacity. It also holds $3.54 billion available under the STRC program. These facilities operate alongside several perpetual preferred stock offerings.
The company maintains ATM programs totaling $21 billion for STRK and $4.2 billion for STRC. It also runs $2.1 billion for STRF and $4.2 billion for STRD. Furthermore, MSTR continues its “42/42” plan targeting $84 billion through 2027.
Balance Sheet Structure and Risk Profile
MSTR structures its liabilities primarily through long-dated perpetual preferred equity. STRK carries an 8% non-cumulative dividend and allows conversion into equity. In contrast, STRF offers a 10% cumulative dividend and remains nonconvertible.
STRD provides a 10% non-cumulative dividend and carries the highest risk profile. Meanwhile, STRC features a variable, cumulative dividend paid monthly. These instruments diversify funding while limiting near-term debt maturities.
The company reported no major debt maturities until 2028. Management also stated that assets could cover obligations even if Bitcoin declined sharply. Therefore, MSTR continues to position itself for long-term Bitcoin exposure while managing leverage.
Earlier in the month, MSTR purchased 1,142 BTC for approximately $90 million. That transaction lifted total holdings to 714,644 BTC at the time. Now, with 717,131 BTC, MSTR approaches its 100th cumulative Bitcoin purchase milestone.
Separately, the company launched a Bitcoin Security Program to address emerging quantum computing risks. Management indicated that the threat remains years away. As a result, MSTR continues accumulation while preparing for potential technological shifts.
