Strategy bought 705 Bitcoin between May 26-30 using $75.1 million at the average price of $106,495. Purchasing $1.8 billion in Bitcoin now means they hold nearly 2.8% of all the Bitcoins in circulation. As stated by Executive Chairman Michael Saylor, MicroStrategy now holds Bitcoin investments worth $40.68 billion which cost them $70,023 per Bitcoin on average, leaving about $20 billion in unrealized profit at today’s prices.
New Funding Method Through Preferred Stock
When Strategy bought Bitcoin, it was the first time it did so without selling common stock. Rather, the company relied on new preferred stock called STRK and STRF. They brought in $36.2 million by selling 353,511 STRK shares and $38.4 million by selling 374,968 STRF shares. Under these programs, the company is left with $22 billion of remaining capacity to use for future buys.
Metaplanet Increases Bitcoin Treasury
For 16.89 billion yen or about $117.5 million, Tokyo’s Metaplanet bought 1,088 BTC at an average price of $108,051 per bitcoin. With this acquisition, their total BTC holdings are 8,888 which are currently valued at approximately $930 million. Buying these Bitcoin helps them fulfill their ambitious target of having 10,000 by the end of 2025.
Both Companies Report Healthy Performance.
As early June came, strategy shared that it had given a 16.9% return on Bitcoin since the beginning of the year and a 5.4% return in the quarter. With CEO Simon Gerovich sharing that Bitcoin yield for the second quarter reached 66.3% and the company’s cumulative return for the year is 225.4%, Metaplanet saw another significant improvement. The business is focusing on earning 35% each quarter and placing among the top 10 companies owning Bitcoin worldwide.
