Strategy sweeps Bitcoin! Invested $580 million within a week, holding over 500,000 coins.

Selling stocks worth nearly 600 million dollars in a week: ATM mechanism activated for fundraising

MicroStrategy (NASDAQ: MSTR) submitted an 8-K report to the U.S. Securities and Exchange Commission (SEC) on March 24, revealing that the company raised over $590 million in just one week through its existing At-the-Market (ATM) offering.

According to the report, from March 17 to 23, the company sold 1.975 million shares of Class A common stock through an equity ATM mechanism in cooperation with several brokerages, including TD Securities, Barclays, and BTIG, resulting in net fundraising of approximately $592.6 million after deducting sales commissions. Currently, the plan still has about $3.57 billion in issuance capacity remaining.

The newly issued STRK preferred shares also assist in fundraising.

In addition to common stock, MicroStrategy has also activated another new fundraising channel: the ATM program for STRK Series A perpetual redeemable preferred stock. This mechanism officially launched on March 10, with an expanded roster of participating brokers, including Compass Point, H.C. Wainwright, and Santander.

As of March 23, the company has issued a total of 13,100 shares of STRK preferred stock, raising approximately 1.1 million dollars after deducting expenses. Currently, the remaining fundraising space for STRK is as high as 20.99 billion dollars.

Big investment in buying coins: 6,911 Bitcoins purchased in 7 days

One of the main purposes of the funds raised by MicroStrategy this time is to continue increasing its holdings of Bitcoin. According to the announcement, the company purchased 6,911 Bitcoins at an average price of $84,529 each (including fees) from March 17 to 23, with a total transaction amount of approximately $584.1 million, almost exactly corresponding to the amount raised this week.

The bitcoins were acquired through fundraising via two ATM mechanisms: common stock and STRK preferred stock.

MicroStrategy's total holdings have surpassed 500,000 coins! The cost price is approximately $66,600.

After this purchase action, MicroStrategy and its subsidiaries hold a total of 506,137 bitcoins, with a total purchase price of 33.7 billion USD and an average holding cost of 66,608 USD per coin (including fees). This further places the company's bitcoin holdings far ahead of other publicly listed companies, making it the largest player in enterprise-level bitcoin investments.

This article Strategy sweeps Bitcoin! Invested 580 million USD within a week, holding over 500,000 coins. First appeared on Chain News ABMedia.