Michael Saylor Teases 'Bigger Orange' — And Strategy Buys $2.1B In Bitcoin

Benzinga and Yahoo Finance LLC whitethorn gain committee oregon gross connected immoderate items done the links below.

Strategy Inc. (NASDAQ:MSTR) disclosed it sold $2.1 cardinal worthy of banal betwixt January 12-19 and converted it consecutive into 22,305 Bitcoin (CRYPTO: BTC), validating president Michael Saylor’s ‘Bigger Orange' teaser.

Strategy Inc. announced the acquisition connected Monday, astatine an mean terms was $95,284 per Bitcoin—notably higher than the company’s humanities mean and astir 25% supra its wide outgo basis.

That premium signals Strategy is consenting to bargain Bitcoin astatine elevated prices alternatively than hold for dips, continuing the strategy that’s defined the institution since 2020.

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As of January 19, Strategy’s full Bitcoin holdings reached 709,715 BTC—one of the largest firm Bitcoin treasuries successful the world.

The institution has spent a cumulative $53.92 cardinal acquiring these holdings, with an mean acquisition terms of $75,979 per bitcoin crossed each acquisitions.

The 3 January purchases unsocial full implicit $2.5 billion:

• January 4: 1,283 BTC for $115.97 million

• January 11: 13,627 BTC for $1.25 billion

• January 12-19: 22,305 BTC for $2.13 billion

Saylor posted a “Bigger Orange” connection connected X Saturday, showing a illustration of Bitcoin (CRYPTO: BTC) terms movements overlaid with Strategy’s acquisition timing.

The cryptic posts person go Saylor’s signature mode of telegraphing incoming Bitcoin buys, and the signifier held again.

Just a time aft the tease, the institution filed its 8-K confirming the monolithic superior rise and Bitcoin purchase.

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The institution sold 2 antithetic securities to money the purchase.

Strategy offloaded astir 2.95 cardinal shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (NASDAQ:STRC), generating nett proceeds of $294.3 million.

The larger merchantability came from Class A communal stock. The institution sold implicit 10.4 cardinal shares of MSTR, bringing successful $1.83 cardinal aft fees and commissions.

Combined, the banal income raised astir $2.125 billion, which the institution instantly converted into Bitcoin.

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MSTR is down 7% to $160—right astatine the captious enactment portion that’s been tested repeatedly.