Strategy Snags Another 1,045 BTC, Pumping $110.2 Million into the Crypto Vault

Holy cow, Bitcoin treasury giant Strategy just dropped a cool $110.2 million on 1,045 more BTC, according to their June 9 SEC filing. These guys are on fire!

They shelled out an average of $105,426 per Bitcoin, and now their total stash sits at a mind-blowing 582,000 BTC. That's over $62 billion at today's prices. Can you believe it?

This epic buy happened between June 2 and June 8, and get this: they funded it with the cash from their recent $1 billion preferred stock sale. Talk about putting your money where your mouth is!

Strategy pulled off this financial wizardry by issuing 11.76 million shares of their 10% Series A Perpetual Preferred Stock at $85 a pop. They're looking to net $979 million after all the fees and whatnot, which they'll use to keep stacking sats and cover general expenses.

And here's the kicker: co-founder Michael Saylor didn't sell a single share to fund this $110 million Bitcoin bonanza. Nope, they raised every penny through at-the-market sales of their STRK and STRF preferred stock. That's some serious commitment to the cause!

Consistent BTC Accumulation

This is Strategy's ninth week in a row of hoovering up Bitcoin like it's going out of style. Michael Saylor even dropped a hint about this latest buy on social media on June 8, before the official filing dropped. Bitcoin was hovering around $107,640 on Monday, just shy of its all-time high of $112,000 from May.

These guys kicked off their Bitcoin buying spree back in August 2020 with a $250 million investment, and they've been on a tear ever since. They've now got 2.75% of all the Bitcoin that'll ever exist. Their market cap has skyrocketed from $1.2 billion in 2020 to a staggering $104.6 billion today.

Strategy's all-in on Bitcoin as a strategic asset, and they're not alone. More and more public companies are jumping on the Bitcoin bandwagon and adding it to their balance sheets.

According to a recent Binance report, corporate interest in digital assets is through the roof. It's like a gold rush out there!

Other companies like Japan's Metaplanet and France's The Blockchain Group are following suit, and their stock prices are going bananas after shifting to Bitcoin-centric treasury models. It's a wild time to be in crypto, folks!