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Strategy’s co-founder, Michael Saylor, has again displayed his company’s Bitcoin portfolio tracker, highlighting the current value of its BTC holdings. This comes amid plans to raise up to $2.5 billion through a stock offering for more BTC purchases. 

Michael Saylor Showcases Strategy’s Bitcoin Holdings

In an X post, Michael Saylor shared an image of the company’s Bitcoin portfolio tracker, which showed that its 607,770 BTC holdings were currently worth around $71.8 billion. Saylor captioned the post, saying, “It all began with a quarter billion in bitcoin.” This refers to the amount the company initially invested to initiate this Bitcoin Strategy. 

Michael Saylor’s Strategy began buying Bitcoin in August 2020, when they first bought 21,454 BTC worth $250 million. Since then, the company has continued to make massive purchases, bringing its total holdings to 607,770 BTC, which it acquired for a total of $43.61 billion at an average price of $71,756 per BTC. Its latest purchase came between July 14 and 20, when it bought 6,220 BTC. 

Thanks to the Bitcoin price appreciation since Strategy began buying BTC, the company now boasts an unrealized gain of around $30 billion on its holdings. It is also worth noting that Michael Saylor’s company is the largest BTC treasury company. The company is well ahead of the other BTC treasury companies, with second-place MARA Holdings holding 50,000 BTC. 

Meanwhile, Michael Saylor’s post again hints that the company likely made another purchase in the week ending July 27. A BTC purchase announcement has most times followed his posts on the portfolio tracker. As such, there is the likelihood that the company will announce another Bitcoin purchase today, which it made between July 21 and 27. 

Strategy To Raise $2.5 Billion To Buy More BTC

Michael Saylor’s Strategy has also announced plans to raise up to $2.5 billion for more Bitcoin purchases. In a press release, the company revealed that it has upsized its STRC IPO from $500 million to $2.5 billion. The company plans to offer 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock at a public offering price of $90 per share. 

Strategy plans to issue and sell these STRC shares by July 29. As such, it is unlikely that the latest BTC purchase was made with proceeds from the offering. The company estimates that the net proceeds from the offering will be around $2.474 billion. It also confirmed that the net proceeds will be used for the acquisition of BTC. It is worth noting that Michael Saylor and his company have sold mainly MSTR shares to fund their last two Bitcoin purchases. 

At the time of writing, the Bitcoin price is trading at around $119,500, up in the last 24 hours, according to data from CoinMarketCap.

Featured image from Pixabay, chart from Tradingview.com

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Strategy co-founder Michael Saylor signaled an impending Bitcoin (BTC) purchase on Sunday, as the company’s total holdings crossed $71 billion.

The treasury company’s most recent purchase occurred on July 14, when it bought 4,225 BTC for $472.5 million, bringing its total holdings to 601,550 BTC, valued at over $71.4 billion.

The company is up about 66.5% on its Bitcoin investment, accounting for over $28.5 billion in unrealized gains, according to SaylorTracker.

Bitcoin treasury companies, led by Strategy, continue to be one of the main drivers of Bitcoin demand in the current market cycle, alongside exchange-traded funds (ETFs), institutional investors, and centralized crypto exchanges.

Related: Lawsuits piling up against Strategy could take years, go nowhere, lawyer says

Strategy’s valuation surges alongside $4 trillion total crypto market cap

The company’s stock surged by about 21.52% in the last month, bringing Strategy’s total valuation to over $118 billion. 

Strategy’s stock rally came amid a rise in the crypto market, with the total crypto market capitalization crossing the $4 trillion mark in July and Bitcoin hitting a new all-time high.

In December 2024, the BTC treasury company entered the Nasdaq 100 stock market index as institutional demand for Strategy’s stock grew.

Certain institutional investors want exposure to Bitcoin but cannot hold Bitcoin directly in their investment funds. These investors hold shares of Bitcoin treasury companies or purchase their corporate debt products as a proxy for holding BTC.

“There are trillions of dollars of managed capital, and some of that has strict mandates associated with it,” macroeconomist Lyn Alden wrote. 

“There are stock funds where the portfolio manager can only buy stocks. He or she cannot buy bonds, ETFs, or commodities,” Alden gave as an example of the types of restrictions placed on asset managers.

Vanguard, one of the biggest institutional investment firms, has long opposed holding Bitcoin or offering Bitcoin directly to clients, but now holds 20 million shares of Strategy, or about 8% of the company’s outstanding stock.

The investment firm’s indirect exposure to Bitcoin through a publicly traded company highlights Bitcoin’s integration into traditional finance through legacy investment vehicles.

Magazine: Bitcoin OG Willy Woo has sold most of his Bitcoin: Here’s why

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