MicroStrategy Plans $22.2 Billion BTC Accumulation to Reach 1 Million Coin Target
MicroStrategy aims to accumulate 1 million Bitcoin by end-2026, requiring purchase of roughly 239,000 coins at an estimated cost of $22.2 billion. The company plans to finance this via STRC perpetual preferred shares offering an 11.5% dividend and supplemental at-the-market equity issuances.
1. Ambitious 1 Million Bitcoin Target
MicroStrategy has set a goal to hold 1 million BTC by end of 2026, requiring purchase of about 239,000 additional coins at an estimated cost of $22.2 billion.
2. Current Holdings and Cost Basis
The firm currently holds 761,068 BTC—roughly 3.6% of Bitcoin's fixed supply—at an average cost of $75,696 per coin, leaving the treasury about 10% underwater versus current prices.
3. Financing Strategy via ‘Stretch’ Shares
To fund the acquisition, MicroStrategy plans to issue STRC perpetual preferred shares carrying an 11.5% annual dividend and supplement capital through at-the-market equity offerings.
4. Weekly Purchase Velocity Requirement
Achieving the target necessitates a weekly buying pace near $540 million through December 2026, with recent market dips viewed as opportunities for high-volume executions without significant slippage.