Strategy Shares Plunge After Acquiring 20,356 BTC
Date: 2025-02-25 Author: Oliver Abernathy Categories: BUSINESS
The company had increased its cryptocurrency holdings to 499,096 BTC by February 23, spending a total of $33.1 billion. The average purchase price was $66,357 per coin. Strategy’s recent acquisition of 20,356 BTC cost $1.99 billion, at an average cost of $97,514 per coin.
To finance the deal, the firm issued $2 billion in convertible senior notes. The notes were sold at a 35% premium, with an estimated strike price of ~$433.43. They are scheduled to mature on March 1, 2030, with an early call option.
Despite an active strategy to accumulate bitcoin, Strategy (MSTR) shares fell by 5.86% on February 24, reaching $282.1. Over the past month, the company's quotes have fallen by 18.7%.
Earlier, Bernstein analysts suggested that by 2033, Strategy will be able to accumulate about 4% of the total bitcoin supply, which is equivalent to 830,000 BTC at an expected price of $1 million per coin.
