Michael Saylor's $73B Bitcoin Bet Just Got Bigger -- And He's Not Done Yet
Warning! GuruFocus has detected 9 Warning Signs with MSTR.
What's funding this buying spree? Not common shares. Strategy is now issuing three types of preferred stock via its at-the-market offering. These instruments, which trade like stocks and pay dividends, brought in $472 million last week alonethe exact amount spent on BTC. It's a playbook shift, but one that aligns with Saylor's long-game thesis: convert yield-bearing capital into hard money. So far this year, Strategy has deployed over $7.24 billion into Bitcoin across 13 separate purchases, generating a year-to-date BTC yield of 20.2%.
With Bitcoin recently hitting a record $123,000 before settling at $121,696, the firm is likely staring down a multi-billion-dollar accounting gain for the quarter. A recent change in fair value accounting rules could significantly amplify the impact of these unrealized gains on Strategy's upcoming earnings. While the stock has already gone parabolic, the company's asset-heavy balance sheet, new financing model, and BTC accumulation strategy suggest the momentum could continueespecially if crypto markets remain strong into year-end.
This article first appeared on GuruFocus.
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