USDStrategy Buys 20,356 Bitcoin as $2B Convertible Note Fuels Holdings Near 500K BTC
Massive Bitcoin Purchase Marks Latest Move in Strategy’s 21/21 Plan
Michael Saylor’s Strategy has secured another 20,356 Bitcoin for $1.99 billion at an average price of $97,514 per coin, further cementing its position as the world’s largest corporate holder of the cryptocurrency. This latest acquisition brings the firm’s total Bitcoin holdings to approximately 499,096 BTC, valued at $33.1 billion, with an average purchase price of $66,357 per BTC.
The purchase follows a $2 billion senior convertible note offering, a key component of Strategy’s “21/21 Plan” aimed at raising $42 billion over three years to accumulate more Bitcoin.
The firm’s latest note issuance carried a 0% coupon and is set to mature on March 1, 2030. Each $1,000 note is convertible into 2.3072 shares of Strategy’s Class A common stock at $433.43 per share—marking a 35% premium over its current market price. After deducting associated fees and expenses, Strategy netted approximately $1.99 billion from the offering, which it intends to allocate toward Bitcoin purchases and general corporate purposes. The company has already raised $20 billion of its $42 billion target, largely through debt and equity financing, reinforcing its aggressive Bitcoin acquisition strategy.
Despite reporting a $670 million net loss in Q4 2024, Strategy’s Bitcoin holdings have yielded an unrealized profit exceeding $14.8 billion, according to Saylortracker. Institutional interest in the firm continues to grow, with 12 North American states reportedly holding $330 million worth of Strategy stock in pension funds and treasuries by the end of 2024. BlackRock, the world’s largest asset manager, has also increased its stake in the company to 5% following its recent rebranding from MicroStrategy on February 5.
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