Will Michael Saylor’s Strategy Company Buy Bitcoin Again? Here Are the Details
The increase in trading volume seen on March 3rd in Strategy’s perpetual preferred stock product, STRC, indicated that the company was actively using this instrument to finance new Bitcoin purchases.
On that date, STRC’s daily trading volume reached approximately $198.7 million. This figure significantly exceeded the average of $123.3 million over the previous 30 days.
It was stated that $177 million of the total volume was spent above the nominal value of the share, which is $100. This level is considered the threshold at which Strategy can issue new shares by activating its “sale at market price” (ATM) program.
According to a simple calculation included in the news report, the funds obtained through this method could be enough to purchase approximately 1,000 $BTC.
Strategy, currently the largest institutional Bitcoin investor, announced on March 2nd that it had purchased 3,015 $BTC. Company founder Michael Saylor stated on March 4th that he was still making Bitcoin purchases.
The increasing STRC volume and simultaneous Bitcoin purchases indicate that the company is continuing its crypto asset accumulation using capital market instruments. Market analysts note that funding obtained through share issuance has become one of the primary financing channels for its Bitcoin strategy.
*This is not investment advice.
