- Strategy holds 780,897 BTC worth $59.1 billion at average cost of $75,577 per coin.
- Trackers average that the firm has accumulated around 23,000 BTC last week.
- Peter Schiff warns new 11.5% yield preferred shares create obligations Strategy cannot meet.
Michael Saylor tweeted “Think Even Bigger” on April 20, hinting at an upcoming BTC purchase. The post, accompanied by a follow-up that simply said “Incoming,” landed against the backdrop of Strategy. The firm already holds 780,897 Bitcoin worth approximately $59.1 billion at an average cost of $75,577 per coin. On a total, Bitcoin’s largest corporate holder, controls roughly 3.7% of the total supply.
The chart he shared tells the accumulation story.
Source: Twitter
Every orange circle represents a purchase event across Strategy’s history, with the cluster of large circles in recent months showing the pace of buying accelerating as the company deploys capital raised through stock offerings and debt instruments.
What the Numbers Suggest
Experts tracking Strategy’s capital raising activity have been running the numbers ahead of Monday’s expected announcement.
Combined trading volume across MSTR and STRC reached $21 billion last week. Based on the previous week’s capital capture rate, roughly 66% of STRC volume flowed into Bitcoin purchases. Trackers average that the firm has accumulated around 23,000 BTC last week.
Observers say Monday’s announcement could push Strategy past BlackRock’s IBIT to become the second-largest Bitcoin holder on the planet, excluding custodial holdings. At the current pace, Strategy could approach 1 million BTC by August if Bitcoin prices remain around $75,000.
Related: Analyst Flags Weekend Shakeout, Says $72K Could Fuel Bitcoin Upside
The Risk Case
Not everyone is reading the signals as bullish. Peter Schiff argued this week that Strategy’s funding model is showing strain. The company recently issued preferred shares carrying an 11.5% annual yield, a significant obligation for a company with no operating earnings.
“Since MSTR has no earnings, this obligation can only be satisfied by selling more preferreds, discounted common, or Bitcoin,” Schiff wrote.
The critique is not new but the yield on the latest preferred issuance gives it more weight than previous cycles.
Where It Stands
Strategy has generated $2.7 billion in year-to-date gains through its accumulation strategy. Monday’s announcement is expected to be one of the largest single purchase disclosures in the company’s history.
Saylor’s track record of posting cryptic signals before major buys has conditioned the market to pay attention when he says “Incoming.”
Related: Trump Signals Ceasefire Doubt, Markets Turn Volatile
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
