Strategy Acquires 20,356 Bitcoin For $1.99 Billion, Boosts 2025 BTC Yield To 6.9%

by Murtuza Merchant Benzinga Staff Writer

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The filing indicated approximately 499,096 bitcoins are now held, at an average cost of roughly $66,357 per Bitcoin, with KPIs listed.
Strategy is settling conversion requests for nearly all of its 2027 convertible notes by issuing new shares of class A common stock.
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Strategy Incorporated MSTR announced it acquired 20,356 Bitcoin for approximately $1.99 billion at an average price of $97,514 per Bitcoin BTC/USD between Feb. 18 and Feb. 23, achieving a year-to-date BTC Yield of 6.9%.

What Happened: As of Feb. 23, the company holds 499,096 Bitcoin, purchased for an aggregate $33.1 billion at an average price of $66,357 per Bitcoin, according to a Securities and Exchange Commission filing.

The Bitcoin purchase was funded using proceeds from a $2.0 billion private offering of 0% convertible senior notes due 2030, completed on Feb. 21.

Net proceeds from the offering totaled $1.99 billion, with an option for initial purchasers to buy an additional $300 million in notes until Feb. 27.

"The bitcoin purchases were made using proceeds from the Convertible Notes Offering," the filing states, reflecting MicroStrategy's strategy of leveraging debt to expand its bitcoin holdings.

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Why It Matters: Strategy's BTC Yield, a key performance indicator measuring the percentage change in the ratio of bitcoin holdings to assumed diluted shares outstanding, reached 6.9% from Jan. 1 to Feb. 23.

The company also reported a BTC gain of 30,702 Bitcoin and a BTC gain of $2.9 billion, based on the market price of Bitcoin on Feb. 23.

"From January 1, 2025 to February 23, 2025, the Company's BTC Yield was 6.9%," the filing notes.

As of Feb. 23, Strategy's total Bitcoin holdings stood at 499,096, up from 447,470 at the end of 2024.

The company did not sell any shares of its class A common stock under its at-the-market equity offering program during the same period, focusing instead on debt-financed Bitcoin acquisitions.

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