Michael Saylor's Strategy Inc. has purchased $2.54 billion worth of Bitcoin over the past seven days, marking the company's largest cryptocurrency purchase since November 2024, Bloomberg reports.
The purchases, made during the week ending April 19, were financed primarily by the sale of $2.18 billion in STRC perpetual preferred shares, according to an SEC filing. The remainder was financed by the sale of common shares.
Strategy has benefited from Bitcoin's three-week rally, the digital currency's longest streak of gains since July. The rising price of the cryptocurrency is helping to support demand for both common and preferred shares. Last week, the company's shares soared nearly 30% as Bitcoin hit a two-month high.
Over the past few years, Strategy has raised tens of billions of dollars from the sale of common shares to purchase digital currency.
Strategy owns approximately $61 billion worth of Bitcoin.
Strategy shares have fallen approximately 48% over the past year, while Bitcoin has fallen 11% over the same period.