Strategy Spends $110M on Bitcoin—Will It Hit 600K BTC Next?

Strategy has expanded its Bitcoin holdings with a fresh $110 million purchase, pushing its total stash to 582,000 BTC. Co-founder Michael Saylor confirmed the latest buy in a company update on Monday.

The firm has now spent over $40.7 billion to acquire its current Bitcoin reserve, steadily approaching the 600,000 BTC mark. Based on its recent momentum, the company is likely to surpass that milestone in the near future.

With this acquisition, Strategy’s average Bitcoin purchase price has now risen above $70,000. That threshold was first crossed during its previous purchase, highlighting the company’s continued commitment at premium levels.

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Stock Offerings Boost Bitcoin War Chest

To support its aggressive buying strategy, Strategy launched a set of preferred stock offerings earlier this year. These include STRD, STRF, and STRK, all designed to raise funds specifically for Bitcoin accumulation.

The STRD offering, which carries the most risk, offers a dividend yield of about 11.75%. It also features a 10% annual dividend, though payments are neither guaranteed nor cumulative.

Meanwhile, STRF has a cumulative 10% dividend, which means missed payments roll over until they are fulfilled. STRK is different as it has a conversion feature, which could create additional profits in the form of equity.

Recent strong interest from investors encouraged the company to boost its STRD offering to $1 billion. This deal, which is supposed to end on Tuesday, is expected to help people purchase more Bitcoin in the future.

At the time of writing, Bitcoin was valued at $107,737 after its price increased by 2% on the last day. The increased buying shows Strategy’s rise and further supports its aggressive tactics.

Saylor openly stated that Bitcoin could reach $13 million in the years ahead. Though the forecast is not guaranteed, it forms the basis for the firm’s certainty about its goal as it approaches 600,000 BTC.

Conclusion

With its latest $110 million purchase, Strategy shows no signs of slowing down. Its growing reserve, backed by investor-driven funding, keeps the company on track to hit the 600,000 BTC mark next.

Also Read: $1 Billion in Tether Minted on Tron Just as Bitcoin Surges Past $106K

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