Strategy makes significant bitcoin purchase, boosting holdings
- Strategy acquired 950 BTC for $75.7 million at an average price of $79,670 per coin.
- The purchase was funded by selling $80.1 million of common stock.
- Remaining proceeds were used to repurchase $174 million of STRC preferred stock and increase cash reserves.
- Executive Chairman Michael Saylor leads the company, which now holds a total of 846,000 BTC, acquired for $63.81 billion at an average price of $74,417 per coin.
- MSTR shares increased by 7% in pre-market trading as Bitcoin rose to $84,500, gaining 4.5% over the past day.
This recent acquisition marks Strategy’s first bitcoin purchase since late August and reflects their ongoing commitment to cryptocurrency investments amid market fluctuations.
With the latest buy, Strategy has significantly expanded its holdings to 846,000 BTC, showcasing a substantial investment strategy in the cryptocurrency space.(Source)
