Bitcoin Treasury Firm Strategy Acquires 17,994 BTC for $1.28 Billion

Bitcoin treasury company Strategy has recently acquired 17,994 BTC for approximately $1.28 billion. According to NS3.AI, this purchase increases the company's total bitcoin holdings to 738,731 BTC. The acquisitions were made at an average price of $70,946 per bitcoin and occurred between March 2 and March 8. Strategy now possesses over 3.4% of bitcoin's fixed 21 million supply and is currently facing around $7 billion in mark-to-market losses. The funding for these acquisitions came from at-the-market sales of its MSTR common stock and Stretch preferred stock STRC. These sales are part of larger ATM and "42/42" capital-raising initiatives, which aim to raise up to $84 billion for bitcoin purchases through 2027.