Strategy raises $711M as Saylor hints new Bitcoin buy

Strategy (formerly MicroStrategy) is poised to expand its Bitcoin (CRYPTO:BTC) holdings after securing $711 million through a preferred stock offering, with executive chairman Michael Saylor hinting at an imminent purchase via a cryptic X post.

The company’s latest financing round, priced at $85 per share with a 10% coupon, follows a pattern of leveraging capital raises to fund Bitcoin acquisitions.

Saylor’s March 23 X post featuring a Bitcoin chart and the caption “needs more orange” aligns with historical precedents where similar messages preceded purchases.

Strategy’s most recent acquisition occurred on March 17, adding 130 BTC ($10.7 million) to its holdings, now totaling 499,226 BTC valued at $42.47 billion.

The company’s accumulation strategy has persisted despite mixed returns.

While its February 24 purchase of 20,356 BTC at $97,514 per coin currently shows a 13.08% loss ($260 million), Strategy’s overall Bitcoin portfolio remains up 28% with $9.3 billion in unrealised gains.

Saylor continues advocating for broader Bitcoin adoption, urging the U.S. government to acquire 25% of the cryptocurrency’s total supply by 2035 in a proposal titled A Digital Assets Strategy to Dominate the 21st Century Global Economy.

“Gold still underperforms the S&P Index by a factor of two or more, so there is only one commodity in the history of the human race that was not a garbage investment — Bitcoin — a digital commodity,” he stated at the Blockworks Digital Asset Summit, emphasising Bitcoin’s superiority over traditional assets.

Strategy’s approach reflects a commitment to dollar-cost averaging, with purchases spanning price points from $82,981 to $105,596 per BTC in 2025.

The company’s next move will likely hinge on deploying its newly raised capital, potentially amplifying its role as a catalyst for institutional Bitcoin adoption.

At the time of reporting, the Bitcoin (BTC) price was $86,121.55.