Strategy Notches Third Smallest Bitcoin Purchase in 2025 as Dividend Payments Approach

The strategy revealed on Monday that it had ticked its third-small Bitcoin acquisition of the year, buying only $22 million worth of assets. press release.

According to Crypto Data Provider Coingecko, the Tysons, Virginia-based company owns around 64,000 bitcoins on Monday, worth $73.1 billion on Monday. That total represents about 3% of Bitcoin mined so far.

The purchase of the strategy disclosed on Monday was the lowest since mid-August, but the move appears to have not been the result of constrained funds as it signaled the strategy raised $128 million and effectively pocketed the difference.

Cash came from selling common stock worth $116 million. At the same time, the strategy sold STRD products worth $11.3 million and $400,000 from STRF’s offering. Characterized by a 10% dividend, STRD was announced in June as the third type of preferred stock of the strategy.

“We had an additional $106 million, but we can assume that we were there for cash interest and to fund future dividends, including those scheduled for tomorrow,” said Lance Vitanza, analyst at TD Cowen. Decryption.

The strategy is expected to pay the STRD holders their first dividends on Tuesday, in addition to payments for the STRC, STRK and STRD offerings. It has been declared SEC submission earlier this month. Strategic obligations for STRD are currently around $30 million per quarter, Vitanza said.

“It’s a very small amount,” he added.

Strategic stocks rose 5% to $324 on Monday, according to Yahoo Finance. Strategic shares have increased by 12% since the start of the year, as they are often portrayed as Bitcoin’s proxy, while the largest cryptocurrency by market capitalization has risen 22% over the same period.

This year, the strategy strengthens its Bitcoin purchasing strategy with additional funding mechanisms, surpassing its pure focus on common stocks and convertible liabilities. This allowed the strategy to fill its lead as Bitcoin’s biggest corporate holder.

But Wall Street veteran Andy Constan said he was shortening strategic stocks earlier this year, but is one of those who compared dynamics to Ponzi’s schemes, claiming that strategy can only fulfill its dividend obligations by raising more money.

Still, in a recent memo, Vitanza said it suggested that “market demand for Bitcoin-backed credit deeds is increasing,” highlighting Vitanza’s recent focus on preferred stocks.

There were other indications that the strategy was focusing on its dividend obligations. Earlier this month, the strategy withheld a portion of its revenue from another salary increase. It cost $68 million through the STRK and STRD offerings, but only $60 million was spent on Bitcoin.