After purchasing 1,587 Bitcoin for $100 million last week, the Tysons Corner, Virginia-based firm signaled that it now owns 846,842 Bitcoin worth $56.3 billion. With Bitcoin trailing Strategy’s average purchase price, the firm’s stockpile was roughly $7.8 billion underwater.
The company established cash reserves in December, as Bitcoin plunged, to assure investors that it could continue to make payments on Stretch (STRC). The preferred stock, which offers an 11.5% annual dividend, is currently worth around $10 billion.
Increasing Bitcoin owned per share has long served as Strategy’s north star, but Saylor’s comments indicate that the company is refining its scope to account for liabilities.
“Accretion depends on the metric,” he added, noting that the company can measure it in terms of its Bitcoin-owned-per-share metric or the net value of assets, including cash reserves.
The purchase that Strategy disclosed on Monday reduced the firm’s Bitcoin holdings per share, under its typical framework, for a second straight week. The year-to-date percentage change in Bitcoin owned per share has fallen to 12.5% from 13% over that period.
