Strategy Inc. on Monday disclosed that it purchased 855 Bitcoin (BTC) for approximately $75.3 million during the week ended February 1, using proceeds from equity sales, according to a filing with the U.S. Securities and Exchange Commission.
The company said the Bitcoin was acquired at an average price of $87,974 per coin, inclusive of fees.
The purchase increased Strategy’s total Bitcoin holdings to 713,502 BTC, acquired at an aggregate cost of $54.26 billion and an average purchase price of $76,052 per Bitcoin.
The disclosure was made in a Form 8-K filed on February 2, alongside updates on the company’s at-the-market equity offering program.
Bitcoin Purchases Funded Through ATM Equity Sales
Strategy said the Bitcoin purchase was funded through sales of its Class A common stock under an existing at-the-market offering.
During the period from January 26 to February 1, the company sold 673,527 shares, generating net proceeds of $106.1 million after commissions.
The filing shows that Strategy retains significant remaining capacity under multiple ATM programs, including more than $8 billion available for issuance under its common stock program and additional capacity across several preferred stock offerings.
The company has repeatedly used equity issuance as its primary funding mechanism for Bitcoin acquisitions, rather than debt tied directly to the digital asset.
A Long-Running Capital Markets Strategy
Strategy’s approach follows a playbook it has refined over several years.
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Since 2020, the company has raised capital through a mix of common stock offerings, convertible notes, and preferred stock issuances to finance Bitcoin purchases, according to prior SEC filings and earnings disclosures.
In 2020 and 2021, Strategy raised billions through convertible bond offerings, including a $650 million convertible note issuance in December 2020 and subsequent offerings in 2021, which it used largely to accumulate Bitcoin.
In later years, the company shifted toward equity-linked instruments, reducing reliance on leverage while continuing to expand its Bitcoin position.
The latest purchase fits that pattern, with the filing explicitly stating that the Bitcoin was acquired using proceeds from share sales rather than borrowings.
Dividend Update And Preferred Stock Changes
Alongside the Bitcoin update, Strategy disclosed an increase in the dividend rate on its Variable Rate Series A Perpetual Stretch Preferred Stock to 11.25%, effective for periods beginning February 1.
The company also declared a cash dividend of $0.9375 per share on that class of preferred stock, payable February 28.
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