Overview
- An SEC filing shows Strategy bought 2,486 BTC for about $168.4 million at roughly $67,710 per coin, taking its stack to 717,131 BTC.
- The purchase was funded by approximately $90.5 million raised through Class A share sales and $78.4 million from STRC preferred stock.
- The company has spent about $54.52 billion on its bitcoin at an average of $76,027 per coin, implying roughly $5.7 billion in unrealized losses at ~$68,000 BTC.
- Management reiterated it can cover obligations even if bitcoin falls to $8,000 and outlined plans to convert about $6 billion of convertible bonds into equity over the next 3–6 years.
- Leadership says future purchases will rely more on perpetual preferreds, a shift supporters say reduces direct dilution while critics flag dividend costs and potential dilution risk.