Strategy Bets Big on Bitcoin With a $2.1B Buy
Strategy spent $2.1 billion to buy 22,300 BTC—the firm’s largest Bitcoin purchase in over nine months—funded mainly by issuing common stock (about 77%) and nearly $300 million from selling STRC preferred shares. Bitcoin traded around the $90k–$97k range amid volatility, while Strategy’s stock has fallen sharply and the company says it holds about $2.2 billion in cash. STRC, a preferred share marketed by Saylor as a digital-credit instrument, helped fund the buys and is tied to the par value near $100.
