Strategy Inc. purchased close to $1.6 billion in Bitcoin between March 9 and last Sunday, marking its largest acquisition since January, according to a regulatory filing released Monday.
The company — formerly known as MicroStrategy — bought 22,337 BTC during the period. Roughly $400 million of the purchase was financed through sales of common stock, while the remaining $1.2 billion was raised through at-the-market sales of its Stretch perpetual preferred shares.
The Stretch securities are dividend-paying instruments similar to bonds but without a maturity date, offering investors an 11.5% annual yield backed by the firm’s Bitcoin reserves.
Last week also marked the largest sale of Stretch securities since their initial public offering in July. It was the first time in several weeks that Strategy relied primarily on Stretch to fund its Bitcoin purchases.
Over this period, the company has been promoting these securities as a vehicle for investors and corporations seeking exposure to Bitcoin without directly facing the asset’s price volatility.
Strategy has gradually developed a multi-layered financing model — combining debt, preferred shares, and equity — to support its ongoing Bitcoin acquisition strategy. Each financing instrument provides investors with different levels of risk and potential returns.
