MicroStrategy executed its largest Bitcoin purchase in nearly a month, spending approximately $1 billion last week. The company, led by Executive Chairman Michael Saylor, now holds nearly 781,000 Bitcoin worth about $55.3 billion. The acquisition was funded solely by its flagship preferred share, allowing the firm to expand its holdings without diluting common shareholders and bringing it closer to surpassing BlackRock’s spot Bitcoin ETF in total holdings.
MicroStrategy announced it spent roughly $1 billion on Bitcoin last week. The purchase, funded entirely by proceeds from its preferred share, STRC, increased its holdings to nearly 781,000 Bitcoin.
The company’s holdings were valued at approximately $55.3 billion based on recent Bitcoin prices. This purchase marks its largest in nearly a month and highlights its continued accumulation strategy.
The firm has raised $3.55 billion via the STRC preferred share since its debut. This product, which pays an 11.5% monthly dividend, has become a foundational funding alternative to common shares.
MicroStrategy now faces an estimated $1.2 billion in annual dividend obligations from these shares. The company last week issued its largest amount of STRC in nearly a month as the share traded near its $100 par value.
Observers noted the firm is within striking distance of BlackRock‘s spot Bitcoin ETF, which holds an estimated 790,000 Bitcoin. MicroStrategy would need to purchase around 9,000 more Bitcoin to surpass the ETF’s holdings, assuming flat inflows.
In a post on X, Michael Saylor stated the company’s breakeven Annual Revenue Requirement (ARR) is approximately 2.05%. “If Bitcoin grows faster than that over time, we can cover our dividends indefinitely without issuing new MSTR shares,” he said.
Last week, TD Cowen analysts trimmed their price target for MicroStrategy to $350 from $440, citing a lower expected Bitcoin price. The firm maintained a “Buy” rating on the company’s stock.
Prediction market traders foresaw only a 12% chance that MicroStrategy would sell any Bitcoin in 2026. This represents a decrease from an 18% probability assessed one month ago.
