So, Michael Saylor, the co-founder of Strategy (formerly known as MicroStrategy, because who doesn’t love a good rebranding?), just dropped a Bitcoin (BTC) chart that’s practically screaming, “Buy me, I’m on sale!” after a week-long shopping hiatus. 🛒💸
On February 10, the company decided to treat itself to 7,633 shiny new Bitcoins, which at the time were worth over $742 million. That’s right, folks, they now have a whopping 478,740 BTC in their treasure chest. Talk about a crypto hoarder! 🏴☠️💎
According to the ever-reliable SaylorTracker, Strategy’s Bitcoin stash is now worth over $46 billion. Yes, you read that right—billion with a “B.” And they’re up 47.7% on their investment. If only my investments in avocado toast had done that well! 🥑📈
Saylor has also hinted at ramping up the use of “intelligent leverage” (which sounds like a fancy way of saying “let’s borrow more money”) during Q1 2025 to snag even more BTC and make shareholders feel like they’re winning the lottery. 🎰💵
Large corporate and state institutions bet on Strategy
Despite the naysayers worried about the sustainability of this Bitcoin acquisition plan (because who doesn’t love a good panic?), big financial institutions are still throwing their money at Strategy like it’s a Black Friday sale. 🛍️💳
According to a February 6 SEC filing, BlackRock, the world’s largest asset manager (with more money than I’ll ever see in my lifetime), has upped its stake in Strategy to 5%. I guess they’re betting on the fact that Bitcoin is the new gold? 🏆💰
This filing came just a day after MicroStrategy decided to rebrand itself to Strategy, because nothing says “serious business” like a name change and a Bitcoin-themed marketing scheme. 🎉📊
Currently, 12 US states are holding Strategy stock as part of their pension programs or treasury funds. That’s right, Arizona, California, Colorado, Florida, Illinois, Louisiana, Maryland, North Carolina, New Jersey, Texas, Utah, and Wisconsin are all in on this crypto craze. Who knew state funds could be so trendy? 🌟📈
California’s State Teachers’ Retirement Fund, which is basically a piggy bank for public school teachers, has the most exposure out of the 12 states, with nearly $83 million of Strategy stock. I hope they’re using that money to buy some really good school supplies! 🍎✏️
Hot on their heels is the California Public Employees Retirement System, which holds about $76.7 million in Strategy shares. I guess they’re hoping for a retirement filled with beach vacations and not just bingo nights! 🏖️🎉
And just when you thought it couldn’t get any crazier, on February 20, Strategy announced the pricing of a $2 billion convertible note tranche. Yes, you heard that right—$2 billion! They’re really going all in on this Bitcoin acquisition thing. 💸🚀
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2025-02-23 19:47