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Strategy Inc. (NASDAQ:MSTR) disclosed it sold $2.1 billion worth of stock between January 12-19 and converted it straight into 22,305 Bitcoin (CRYPTO: BTC), validating chairman Michael Saylor’s ‘Bigger Orange' teaser.
Strategy Inc. announced the purchase on Monday, at an average price was $95,284 per Bitcoin—notably higher than the company’s historical average and about 25% above its overall cost basis.
That premium signals Strategy is willing to buy Bitcoin at elevated prices rather than wait for dips, continuing the strategy that’s defined the company since 2020.
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As of January 19, Strategy’s total Bitcoin holdings reached 709,715 BTC—one of the largest corporate Bitcoin treasuries in the world.
The company has spent a cumulative $53.92 billion acquiring these holdings, with an average purchase price of $75,979 per bitcoin across all acquisitions.
The three January purchases alone total over $2.5 billion:
Saylor posted a “Bigger Orange” message on X Saturday, showing a chart of Bitcoin (CRYPTO: BTC) price movements overlaid with Strategy’s purchase timing.
The cryptic posts have become Saylor’s signature way of telegraphing incoming Bitcoin buys, and the pattern held again.
Just a day after the tease, the company filed its 8-K confirming the massive capital raise and Bitcoin purchase.
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How Strategy Raised $2.1B In One Week
The company sold two different securities to fund the purchase.
Strategy offloaded approximately 2.95 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (NASDAQ:STRC), generating net proceeds of $294.3 million.
The larger sale came from Class A common stock. The company sold over 10.4 million shares of MSTR, bringing in $1.83 billion after fees and commissions.
Combined, the stock sales raised approximately $2.125 billion, which the company immediately converted into Bitcoin.
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MSTR is down 7% to $160—right at the critical support zone that’s been tested repeatedly.