Strategy eyes new Bitcoin buy after $742M purchase

Michael Saylor, co-founder of Strategy (formerly MicroStrategy), has hinted at a potential resumption of Bitcoin (CRYPTO:BTC) purchases after a one-week pause, signaling the move with a Bitcoin chart post.

The company's latest purchase occurred on February 10, with the acquisition of 7,633 BTC valued at $742 million.

Strategy's total Bitcoin holdings amount to 478,740 BTC, worth over $46 billion.

The company is up 47.7% on its investment.

Saylor had previously indicated Strategy's intent to increase its use of "intelligent leverage" in Q1 2025 to finance further BTC acquisitions.

Despite concerns about the sustainability of its Bitcoin acquisition plan, Strategy continues to attract investment from large financial institutions.

BlackRock, with over $11.6 trillion in assets under management, increased its stake in Strategy to 5%.

Twelve U.S. states, including California, Texas, and Florida, hold Strategy stock as part of their pension programs or treasury funds.

California's State Teachers' Retirement Fund has nearly $83 million of Strategy stock in its portfolio.

On February 20, Strategy announced the pricing of a $2 billion convertible note tranche to fund additional Bitcoin acquisitions.

The company is progressing with its "21/21 Plan" to purchase more BTC, including raising $21 billion through equity sales and $21 billion through fixed-income securities.

As of February 5, Strategy was nearing the halfway mark of its $42 billion capital-raising target.

Strategy aims for a BTC gain of $10 billion in 2025.

At the time of reporting, the Bitcoin (BTC) price was $95,363.18.