Strategy buys 34,164 BTC for $2.54B in its biggest single Bitcoin purchase

CoinMarketCap reports that Michael Saylor's company Strategy has completed what it calls the third-largest Bitcoin purchase ever, acquiring 34,164 BTC for about $2.54 billion. Strategy now holds 815,061 BTC worth roughly $61.56 billion, with an average cost of $75,527 per coin. The latest buy was executed at an average price of $74,395 per BTC. It is the company's largest crypto transaction on record and the biggest since it disclosed buying 55,000 BTC on Nov. 25, 2024. Its second-largest deal was the purchase of 51,780 BTC reported in November 2024. Funding for the purchase came primarily from securities issuance: about 86% of proceeds were raised through sales of STRC, with the balance from selling MSTR common stock, which diluted common equity. STRC is Strategy's Series A perpetual floating-rate preferred stock and currently pays a floating dividend of 11.5% per month. Saylor said the company's 2024 year-to-date Bitcoin return has reached 9.5%. Strategy, listed on Nasdaq as MSTR, is the world's largest corporate Bitcoin holder and the first public company to adopt Bitcoin as its sole treasury reserve asset. At the time of publication, Bitcoin traded at $75,655, up 0.54% over the past 24 hours and nearly 5% over the past seven days. In a tweet earlier this month, Thiel argued Bitcoin no longer needs future boom-and-bust cycles: "Bitcoin has won." He added that a global consensus now views Bitcoin as "digital capital," saying the four-year cycle is over and that price is now driven by capital flows, with banks and digital credit shaping Bitcoin's growth. He also warned that the biggest risk is "bad ideas" leading to artificial protocol changes. Follow us on X, Facebook, and Telegram. Don't miss a beat—subscribe to receive email alerts directly in your inbox. Surf the Daily Hodl Mix. Generate image: Midjourney.