Strategy’s 100th Bitcoin Purchase Ever Is Its Smallest Yet in 2026
Strategy made its smallest Bitcoin purchase of 2024, spending $40 million on 591 Bitcoin, bringing its total holdings to 717,722 Bitcoin, valued at $47 billion. The company’s average Bitcoin purchase price fell to $76,020 as of this latest acquisition. Despite spending over $54 billion in total, Strategy currently faces a $6.8 billion unrealized loss. Funded by proceeds from issuing common shares, the purchase marks the 100th addition to its Bitcoin stockpile since 2020. Recent acquisitions were accelerated through the use of variable rate preferred stock (STRC), which pays 11.25% monthly dividends but adds significant recurring costs. Strategy’s stock fell 2.5% on Monday and is down 64% over six months. The likelihood of a Bitcoin sale by Strategy in 2024 has dropped to 17%. The company's market metric, mNAV, has declined, complicating its ability to increase Bitcoin ownership per share. Strategy represented 93% of publicly traded firms' new Bitcoin acquisitions in January, far outpacing competitors. Other companies, including Strive and Metaplanet, are also using similar funding methods to acquire Bitcoin.
