Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase
ADVERTISEMENT The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion.
Strategy has been using a combination of common and preferred shares, as well as debt, to fund Bitcoin purchases since it began accumulating the cryptocurrency in late 2020 as a hedge against inflation. Dozens of companies have begun to emulate the practice. Strategy is the world's leading corporate owner of Bitcoin. BlackRock's iShares Bitcoin Trust ETF (IBIT) holds about $86 billion in assets.
While some other tokens' unlimited supply has concerned investors, Bitcoin's store of value proposition has been buoyed by the 21 million limit on the number of tokens to be mined. Instructions in the network's original code have further helped to promote the scarcity value of the token — like quadrennial halving events that automatically slash the amount of token rewards miners earn. The last Bitcoin is expected to be issued in the year 2140. Strategy said separately Monday that it planned to offer 5 million of variable-rate Series A perpetual Stretch preferred stock to help finance additional Bitcoin purchases. It is the fourth series of preferred shares by the company. The common shares of Strategy has surged more than 3,500% since Saylor - a founder and executive chairman of the company - began buying Bitcoin. The cryptocurrency has risen about 1,100% during the same period, while S&P 500 has increased around 120%.
ADVERTISEMENT
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
20 minutes ago
- News18
Karur Vysya Bank rolls out cybersecurity initiative to promote digital safety
Last Updated: Karur (Tamil Nadu), Jul 26 (PTI) Karur Vysya Bank launched a cybersecurity awareness initiative aimed at promoting digital awareness and responsible financial practices among the public, with Reserve Bank of India Deputy Governor J Swaminathan J unveiling the programme here. Participating in the 109th Founder's Day celebration of the bank in Karur on July 25, Swaminathan formally rolled out the programme, which will reach diverse sections of society through a mass media campaign. The Karur-based bank said in a press release on Saturday that it has also planned several specially curated workshops on cybersecurity across schools, colleges, senior citizen forums, and residential communities. Commenting on the launch of the cyber security awareness programme, the bank's Managing Director and CEO, Ramesh Babu, said, 'We aim to educate and empower every section of society to stay vigilant and secure in today's digital world. As we look ahead, we remain committed to growing responsibly, while upholding the same integrity and trust that have defined KVB since its inception." Marking the Founder's Day celebration, Swaminathan said, 'Founder's Day is not just a ceremonial gathering to mark the passage of time. It is a celebration of vision, resolve, and quiet determination—a tribute to those who chose to build a lasting institution in the face of uncertainty. Lasting success is built not on chance or scale, but on careful thought and considered action." The occasion also featured the launch of a specially curated brand film showcasing Karur Vysya Bank's journey over the last 109 years. view comments First Published: July 26, 2025, 17:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
44 minutes ago
- Time of India
Brigade Hotel Ventures' IPO subscribed 1.19 times on day 2 of offer
NEW DELHI: The initial share sale of Brigade Hotel Ventures Ltd received 1.19 times subscription on the second day of bidding on Friday. The company's initial public offering (IPO) got bids for 6,09,28,972 shares against 5,11,93,987 shares on offer, according to data available with the NSE. Retail Individual Investors (RIIs) part got subscribed 4.65 times while the portion for non-institutional investors received 98 per cent subscription. The Qualified Institutional Buyers (QIBs) category fetched 8 per cent subscription. Brigade Hotel Ventures Ltd on Wednesday raised Rs 325 crore from anchor investors. The IPO will conclude on July 28. The price band has been fixed at Rs 85 to Rs 90 per share. At the upper end of the price band, the company is valued at over Rs 3,400 crore. Brigade Hotel Ventures' IPO is entirely a fresh issue of equity shares worth Rs 759.6 crore with no offer-for-sale (OFS) component. Proceeds from the issue to the tune of Rs 468.14 crore will be used for the payment of debt, Rs 107.52 crore will be utilised for the purchase of an undivided share of land from the promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. Brigade Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL). BEL entered into the hospitality business in 2004 with the development of its first hotel, Grand Mercure Bangalore, which commenced operations in 2009. The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. The hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group. JM Financial and ICICI Securities are the book-running lead managers to the issue.
Time of India
44 minutes ago
- Time of India
Executive Centre India plans to raise Rs 2,600 crore through a fresh issue of equity shares
NEW DELHI: Executive Centre India , a flexible workspace provider and part of the TEC Group , has filed its draft red herring prospectus (DRHP) with the securities and exchange board of India ( SEBI ). The IPO comprises of a fresh issue of equity shares bearing face value of ₹2 each aggregating up to ₹2,600 crore. The company proposes to utilise the net proceeds towards an investment in TEC Abu Dhabi, a direct subsidiary, to finance part-payment of the consideration for the acquisition of TEC SGP and TEC Dubai, two step-down subsidiaries currently held by one of the company's corporate promoters, TEC Singapore . The remaining proceeds will be allocated towards general corporate purposes. The company is an India-based operator with pan-Asia operations, spread across India, Singapore, the Middle East comprising Dubai and Abu Dhabi in the United Arab Emirates, rest of Asia comprising Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in Philippines and Colombo in Sri Lanka. As of March 31, 2025, the total portfolio comprised 89 operational centers across 14 cities in seven countries. The net revenue retention rate was 120.33% and 123.92% in FY25 and FY24, respectively, reflecting the company's ability to retain and expand the Client base. In FY25, they served over 1,200 MNC clients, with an average of 24 workstations per MNC Client and an average MNC Client tenure of 50.46 months. The average tenure of clients is 48.97 months, which exceeded the typical lock-in period of license agreement with clients of 20.95 months as of March 31, 2025. For the new operational centres between FY23 and FY25, the average pre-sale occupancy was 64.33% across all markets. For the financial year ended March 31, 2025, the company reported a total income of ₹1,346.397 crore, marking a 27.58% increase from ₹1,055.319 crore in FY24. In FY24, the total income had grown by 36.68% over the previous year's ₹772.112 crore. Revenue from operations stood at ₹1,322.643 crore in FY25, reflecting a 27.59% growth over ₹1,036.620 crore recorded in FY24, which itself had grown by 35.79% compared to ₹763.389 crore in FY23. The company's EBITDA also showed a steady rise, reaching ₹713.329 crore in FY25, up from ₹583.548 crore in FY24 and ₹468.030 crore in FY23. Kotak Mahindra Capital Company, ICICI Securities and Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue.
