Strategy (NASDAQ:MSTR), previously known as MicroStrategy, is making another significant investment in Bitcoin (BTC-USD). From March 24 to March 30, the company acquired an additional 22,048 BTC at an average price of $86,969, totaling an expenditure of $1.92 billion. This capital was sourced from a combination of common stock and preferred share offerings, underscoring Michael Saylor’s firm belief in Bitcoin, which is not just maintained but is actively growing. With this latest acquisition, Strategy now holds an impressive total of 528,185 Bitcoin, valued at approximately $35.63 billion, solidifying its position as the leading corporate holder of BTC.
However, the competition is still intense. MARA Holdings (NASDAQ:MARA), the largest publicly traded Bitcoin mining company, currently holds 46,374 BTC and has just announced a $2 billion stock sale for further investments. The SEC filing dated March 28 details collaborations with Barclays, BMO, and Cantor Fitzgerald to facilitate the offering. With shares priced at an astonishingly low $0.0001, MARA is demonstrating urgency in acquiring more Bitcoin as institutional interest grows. This venture is shifting the focus from mining to large-scale accumulation.
This all transpires amidst a slight cooldown in Bitcoin’s market activity. Recent data from Kraken indicates BTC is trading around $82,318, which is a decline of over 5% in the past week. Nevertheless, both Strategy and MARA are optimistic that this is merely a temporary pause before the next upward surge. Whether they are striking early or repeating past moves remains uncertain, but it is evident that institutional demand for Bitcoin continues to intensify.
This article was first published on GuruFocus.
