Strategy, formerly known as MicroStrategy, recently announced it acquired 15,355 Bitcoin worth $1.4 billion, marking its third largest purchase of the asset this year. Based in Tysons, Virginia, the company now holds approximately 554,000 Bitcoin, valued at around $52.3 billion. This purchase is partly funded through its at-the-money equity offering program, which has raised around $20.9 billion since its inception in October. The equity sales included both common shares and some preferred shares. Despite this major purchasing spree, Strategy still has about $128 million in common shares available for issuance and can sell additional perpetual preferred stock. The company aims to achieve a $42 billion operational roadmap for Bitcoin acquisitions, with plans to fund this through a mix of equity offerings and corporate debt. This ambitious strategy places Strategy in a leading position within corporate Bitcoin holders, facing competition from other firms looking to increase their crypto asset portfolios.

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