Strategy buys 3,015 bitcoin in largest weekly addition since January

Strategy added another weekly round to its treasury, this time acquiring 3,015 BTC. The STRC preferred stock made up a significant part of this week’s raise, offsetting the MSTR dilution. 

Strategy expanded its treasury by 3,015 BTC, using a mix of STRC and MSTR to raise funds. After the latest purchases, Strategy lowered its average BTC price to $75,985 as it bought the new coins at $67,700. Despite this, the Strategy treasury remained underwater since early February.

For Strategy, this is the highest weekly purchase since January 20, when it bought an outsized weekly tranche of 22,305 BTC. Strategy increased its weekly purchase after the recent low-key buying of 592 BTC. 

The latest purchase arrived as BTC traded into a range, slightly sinking to $65,384.76. The larger BTC purchase is potentially seen as bullish, showing Strategy managed to raise funds and enjoyed robust interest from investors. 

Treasury companies remain almost inactive, with few exceptions like Hyperliquid Strategies still posting net gains. 

Strategy uses STRC to increase weekly purchase

In the past few weeks, Strategy heavily advertised its STRC preferred stock with a monthly dividend distribution. Despite this, the last few purchases came from the MSTR ATM facility, increasing common stock dilution. 

The STRC sale calls for monthly outflows, challenging Strategy to keep liquid and meet its obligations for preferred dividend stock. 

For the latest purchase, Strategy raised $7.1M from STRC sales. However, the bulk of funding came from MSTR shares, raising $229.9M. The company spent $204.1M on BTC, retaining some of the liquidity for dividends and other cash obligations. 

Last week, Strategy was able to sell enough STRC to buy 105 BTC. Previous weeks also boosted STRC raises, but only at the $99-$101 price range. 

Is Strategy still using a viable playbook? 

As BTC remains rangebound, without further crashes, Strategy looks capable of raises and surviving a bear market. MSTR drifted sideways around the $130 range after bouncing from the $100 level. 

STRC also has days where its price is in the range that allows new sales. To attract buyers, Strategy also increased the preferred stock’s dividend to 11.5% for March. 

Weeks with STRC activity are now appearing more often, though the company still relies mostly on MSTR. For now, Strategy remains the only playbook company with active regular buying. Historically, MSTR price bottoms coincide with BTC local lows, setting an expectation for an eventual recovery, or at least sideways trading.

Other companies, such as Trump Media and Technology Group, switched to selling. The Trump family fund decreased the treasury from 11,542 BTC down to 9,542 BTC. Fold Holdings, Inc. shrank its treasury from 1,526 BTC to 1,005 BTC. Others, like Block, Inc., added 103 BTC to their reserves. 

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