Strategy Begins 'Second Century' With Massive $1.28 Billion Bitcoin Buy

Strategy (NASDAQ:MSTR) purchased 17,994 Bitcoin (CRYPTO: BTC) for $1.28 billion at $70,946 per coin last week, confirming Executive Chairman Michael Saylor’s Sunday hint on X.

The $1.3B Bitcoin Buy

The company now holds 738,731 BTC acquired for $56.04 billion at an average price of $75,862 per coin. 

With Bitcoin trading just below $68,000, the treasury sits roughly $6 billion underwater.

Last week’s buys were funded via $900 million in common stock sales and $377 million of STRC preferred series stock sales. 

The company raised $1.28 billion total through its at-the-market offering program.

Saylor hinted at the purchase Sunday by posting “The Second Century Begins” on X. For months, Saylor has previewed Bitcoin acquisitions with weekend posts before official Monday announcements.

The Remaining Capacity

Strategy retains significant capacity under its ATM program: $1.62 billion available in STRF preferred stock, $3.16 billion in STRC preferred stock, $20.33 billion in STRK preferred stock, $4.01 billion in STRD preferred stock, and $6.71 billion in common stock.

This indicates tens of billions of dollars in potential issuance capacity to continue funding the Bitcoin accumulation strategy. 

The company can raise over $35 billion additional capital without needing shareholder approval.

MSTR Tests Critical Support

MSTR closed down 4.49% last week, with Monday premarket showing 0.5% gains.

The stock failed to sustain above critical resistance and is pulling back sharply, threatening to invalidate the bullish recovery attempt from February lows.

The Supertrend at $150.09 sits above current price in bearish mode. 

MSTR currently tests the 20 EMA, having briefly poked above it before this week’s decline pulled price back below.

Critical support sits at $105-$120, representing the February capitulation low. 

Current price of $133.53 is approximately 26% above the capitulation low, providing some cushion. However, momentum is clearly to the downside.

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