Strategy, previously known as MicroStrategy, is pushing ahead with its aggressive Bitcoin accumulation strategy.
According to a Feb. 20 statement, the company plans to acquire an additional $2 billion worth of Bitcoin using proceeds from its latest convertible notes offering.
At the same time, Japanese firm Metaplanet, a Strategy copycat, has reached a key milestone in its Bitcoin investment strategy.
Strategy’s $2 Billion move
On Feb. 20, Strategy announced the pricing details of its $2 billion convertible senior notes. These zero-interest notes will mature in 2030, with the offering set to close on Feb. 21, 2025.
Investors can convert them into Strategy’s stock shares, which have been set at an initial rate of 2.3072 MSTR shares per $1,000 principal amount.
This translates to a conversion price of $433.43 per share, reflecting a 35% premium over the company’s weighted average stock price during the final trading hours on Feb. 20.
Noteholders can convert their investments under specific conditions before Dec. 3, 2029. After this date, they may convert at any time and receive either cash or Strategy’s Class A common stock.
Strategy is the world’s largest corporate holder of Bitcoin, with 478,740 BTC valued at more than $46 billion.
Metaplanet Bitcoin reserve
Metaplanet has continued its Bitcoin accumulation, purchasing 68.59 BTC for approximately $6.6 million.
According to a Feb. 20 statement, the company paid an average of $96,335 per Bitcoin, bringing its total holdings to 2,100 BTC. At current market rates, this investment is valued at over $204 million.
The Japan-based firm’s CEO, Simon Gerovich, reaffirmed its commitment to a Bitcoin-first approach while describing the asset as the world’s only truly scarce resource. According to him, the company has ambitious goals of accumulating 10,000 BTC by the end of 2025 and 21,000 BTC by 2026.
Meanwhile, Metaplanet has also secured its place as the largest component of the CoinShares Blockchain Global Equity Index (BLOCK Index), with a 6.27% weighting.
Gerovich noted that this reflects Bitcoin’s growing role in corporate balance sheets and its potential to enhance transparency, resilience, and long-term shareholder value. He added:
“We’re honored to stand alongside industry leaders and remain committed to demonstrating what a Bitcoin-first approach can achieve for listed companies.”
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