Strategy resumes Bitcoin plan with $742m buy

Strategy executes its first Bitcoin purchase since rebrand and 2024 Q4 earnings report

Business intelligence firm Strategy has allocated an additional $742.4 million to Bitcoin ($BTC) after issuing more shares through its at-the-market stock program, according to a filing with the U.S. Securities and Exchange Commission.

The company acquired 7,633 $BTC for an average spot price of $97,255, increasing its total Bitcoin holdings to 478,740 tokens, valued at over $46 billion.

While Strategy has spent $31.1 billion on its $BTC acquisition plan since 2020, this marks the first time the company has purchased Bitcoin following its rebrand to “Strategy.”

Last week, the company, led by $BTC advocate Michael Saylor removed “Micro” from its name to streamline operations and reinforce its identity as the world’s largest corporate Bitcoin holder. Saylor’s business also introduced a Bitcoin-themed orange logo, reaffirming its “21/21” vision, which aims to add $42 billion worth of $BTC to its balance sheet by late 2027.

Strategy’s first $BTC purchase since the rebrand comes despite losses disclosed in last week’s Q4 earnings call. During the final quarter of last year, Saylor’s corporation reported $BTC-related impairment losses totaling $670 million.

However, shareholders have supported Saylor’s plans to increase $BTC holdings. A vote approved a 30-fold increase in the number of shares offered through Strategy’s ATM program.