Strategy, formerly known as MicroStrategy, has purchased 20,356 Bitcoin (BTC) for $1.99 billion, according to a Feb. 24 post by Michael Saylor on X. The company paid an average price of $97,514 per BTC.

Meanwhile, BTCUSD intraday charts show that the price has breached 95,000, a key level traders have been watching. The H1 chart has not yet confirmed the breakout. If confirmed, the price may move further to the downside.

Strategy Raises $2 Billion to Acquire Bitcoin

This acquisition increased Strategy’s total Bitcoin holdings to 499,096 BTC, acquired at a total cost of $33.1 billion. The company’s average purchase price stands at $66,357 per BTC.

Strategy has acquired 20,356 BTC for ~$1.99B at ~$97,514 per bitcoin and has achieved BTC Yield of 6.9% YTD 2025. As of 2/23/2025, we hodl 499,096 $BTC acquired for ~$33.1 billion at ~$66,357 per bitcoin. $MSTR https://t.co/mNWDaXRE7N

— Michael Saylor⚡️ (@saylor) February 24, 2025

The purchase followed Strategy’s $2 billion senior convertible note offering. The notes carry a 0% coupon and will mature on March 1, 2030. Each $1,000 note block is convertible into 2.3072 shares of the company’s Class A common stock at $433.43 per share, representing a 35% premium over the market price.

After deducting fees and expenses, the offering generated approximately $1.99 billion in net proceeds. Strategy stated that it intends to use the funds for general corporate purposes, including Bitcoin acquisitions and working capital.