Strategy executes its first Bitcoin purchase since rebrand and 2024 Q4 earnings report
Business intelligence firm Strategy has allocated an additional $742.4 million to Bitcoin (BTC) after issuing more shares through its at-the-market stock program, according to a filing with the U.S. Securities and Exchange Commission.
The company acquired 7,633 BTC for an average spot price of $97,255, increasing its total Bitcoin holdings to 478,740 tokens, valued at over $46 billion.
While Strategy has spent $31.1 billion on its BTC acquisition plan since 2020, this marks the first time the company has purchased Bitcoin following its rebrand to โStrategy.โ
Last week, the company, led by BTC advocate Michael Saylor removed โMicroโ from its name to streamline operations and reinforce its identity as the worldโs largest corporate Bitcoin holder. Saylorโs business also introduced a Bitcoin-themed orange logo, reaffirming its โ21/21โ vision, which aims to add $42 billion worth of BTC to its balance sheet by late 2027.
Strategyโs first BTC purchase since the rebrand comes despite losses disclosed in last weekโs Q4 earnings call. During the final quarter of last year, Saylorโs corporation reported BTC-related impairment losses totaling $670 million.
However, shareholders have supported Saylorโs plans to increase BTC holdings. A vote approved a 30-fold increase in the number of shares offered through Strategyโs ATM program.
