Strategy sells shares to buy coins, then adds 1,665 more BTC, bringing total holdings above 847,000
According to Decrypt and Cointelegraph, Michael Saylor’s Strategy bought 1,665 BTC last week at a cost of about $143M, raising its total holdings to 847,666 BTC and setting a new record for the company. At the same time, Strategy raised $246.2 million by selling 1.47 million shares of
$MSTR stock, to fund BTC purchases and related expenditures for STRC preferred stock.
The essence of this move is a classic “sell shares to buy coins” capital cycle: as long as the
$MSTR share price maintains a premium, the company can continuously issue stock at relatively low cost, then convert the proceeds into BTC reserves. For
$BTC , this institutional, sustained bid provides structural support—especially when ETF fund flows and improvements in macro liquidity move in the same direction, amplifying the marginal impact.
However, what needs watching is that this model is highly dependent on
$MSTR ’s share-price performance and market sentiment. If the stock pulls back or investors grow tired of the “stock for BTC” narrative, the efficiency of fundraising may decline, the pace of accumulation could slow, and liquidity pressure may even emerge. In addition, the
$MSTR balance sheet will change due to continued dilution, and the balance between shareholder returns and BTC reserves remains a long-term point of contention.
Signals worth tracking next include whether
$MSTR continues selling stock at a similar scale, whether net inflows into spot BTC ETFs remain steady, and how the macro interest-rate environment affects liquidity in risk assets. If these conditions hold at the same time, the institutional buying logic for
$BTC is likely to continue; otherwise, investors should be wary of short-term pressure caused by a slowdown in the buying pace.
$MSTR $BTC #Bitcoin #MSTR #CryptoMarket
The above is information compilation and personal analysis and does not constitute investment advice.
Follow me to keep tracking key market changes and data.