Overview
- Strategy shares rallied Wednesday as bitcoin approached $79,000, extending a multi-session surge that outpaced the broader crypto stock advance.
- Strategy disclosed April 20 it bought 34,164 BTC for about $2.54 billion, lifting its treasury to 815,061 BTC and overtaking BlackRock’s IBIT in reported holdings.
- The purchase was financed mostly by selling 21.8 million STRC preferred shares, with the remainder from 2.16 million new common shares, highlighting the firm’s funding model.
- Capital Group bought 4.32 million Strategy shares for roughly $747 million, raising its stake to 10.33 million shares, while Cantor Fitzgerald lifted its price target to $212 ahead of May 2 earnings and a June 8 shareholder vote on STRC dividend timing.
- STRC went ex-dividend April 15 and recovered toward its $100 par, a pattern that lets Strategy issue more shares for bitcoin buys, while bitcoin’s post-payout rise and a persistent U.S. exchange premium point to short covering and steady spot demand.