Key Takeaways
- Strategy raised $357 million through common and preferred stock sales between Aug. 18 and Aug. 24.
- The funds were used to buy 3,081 bitcoin at an average price of $115,829 per token.
- The company’s total holdings rose to 632,457 BTC, purchased for an aggregate $46.5 billion.
- Preferred stock sales included $20.4 million from STRK shares and $26.6 million from STRF shares, while other series saw little or no activity.
Strategy Inc, the biggest corporate holder of bitcoin, disclosed on Monday a detailed report of its latest fundraising and purchases through at-the-market share sales, highlighting the company’s continued push towards bitcoin despite market volatility.
According to the filing, between Aug. 18 and Aug. 24 the company sold 875,301 shares of Class A common stock under its $21 billion program, raising $309.9 million in net proceeds. It also sold 210,100 shares of its 8% Series A (STRK) preferred stock for $20.4 million and 237,336 shares of its 10% Series A (STRF) preferred stock for $26.6 million.
In total, the company raised about $357 million, with the fresh capital directed into bitcoin.
Strategy said it purchased 3,081 BTC during the week, spending $356.9 million at an average price of $115,829 per coin. That brings its total holdings to 632,457 BTC, acquired at an aggregate cost of $46.5 billion, or an average $73,527 per bitcoin.
Strategy Shares Post 95% Annualized Return since 2020
Prior to the filing, Strategy published a performance chart showing its shares delivered a 95% annualized return since August 10, 2020, the beginning of what it calls the “Bitcoin Standard Era.” The gains far surpassed the performance of technology giants, such as Nvidia, Tesla and Meta.
The comparison underscores the company’s message that its bitcoin-focused strategy, not just its shares, has outpaced conventional market leaders.
Gains Outpace Tech Peers, But at What Cost
Despite the surge in Strategy’s shares, a report from Morningstar DBRS warned that corporate reliance on bitcoin exposes treasuries to heightened risks.
The ratings firm said bitcoin trades nearly five times more volatile than the S&P 500, raising concerns over capital stability. It added that global regulatory oversight remains fragmented, with overlapping frameworks in the United States and multiple authorities in the European Union and Canada complicating compliance.
Furthermore, liquidity constraints and concentrated reliance on major exchanges increase exposure to delayed trades and counterparty risks.
Morningstar concluded that while corporate adoption of bitcoin is likely to increase, the trend could weaken balance-sheet resilience during periods of market stress.
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