The firm Strategy, led by the well-known Bitcoin enthusiast Michael Saylor, has decided to further intensify its already aggressive investment strategy in the cryptocurrency.
In a move that has drawn attention from the entire financial ecosystem, the company announced that it will double its capital raising plan to USD 84 billion, all with the aim of continuing to accumulate $BTC as the main asset of its portfolio.
This new step involves the issuance of another 21 billion dollars in ordinary shares, after exhausting a previous program of equal value. In addition, Strategy expanded its debt issuance program, increasing it from 21 billion to USD 42 billion.
All of this is part of a clear strategy: to leverage traditional financial market tools to continue buying bitcoin on a large scale.
Currently, Strategy holds more than 553,000 BTC, remaining the publicly traded company with the most bitcoins in its possession. Following at a considerable distance are MARA Holdings and Twenty One, with 47,600 and 31,500 BTC respectively.
This offensive comes even in a context of correction in the price of bitcoin, which has fallen nearly 10% from its recent all-time high. However, Saylor remains firm in his long-term vision: he believes that the bullish cycle has not yet reached its peak and estimates that BTC could reach USD 180,000 before correcting to USD 140,000.
Despite reporting a record net loss of USD 4.2 billion in the first quarter of the year, due to new accounting rules that require valuing bitcoin at market price,
Strategy shows no signs of slowing down. Even other companies, such as the Japanese Metaplanet, have started to follow a similar model, issuing debt to increase their BTC reserves.
However, this strategy has also faced criticism. Some analysts, like Jacob King, warn that the scheme could resemble a 'Ponzi' cycle, where debt fuels the demand for bitcoin, which raises the price and shares, attracting more investment and repeating the process.
Still, Strategy continues to establish itself as a key player in the crypto ecosystem. Its hybrid approach—mixing traditional financial tools with a strong belief in bitcoin as a store of value—reinforces its role in the narrative of institutional adoption of cryptocurrencies. For many, Saylor is not just making a risky bet, but leading a financial revolution.
