Michael Saylor’s Strategy Acquires Nearly $1.3 Billion in Bitcoin
- Strategy (MSTR) purchased 17,994 bitcoin for $1.28 billion, averaging $70,946 per coin.
- The company’s total bitcoin holdings now stand at 738,731 BTC, acquired for $56.04 billion.
- Current trading price of bitcoin is just below $68,000.
- Funding for the purchase included $900 million from sales of common stock and $377 million from preferred stock.
- MSTR shares saw a slight increase of 0.2% in pre-market trading following the announcement.
This significant acquisition reinforces Strategy’s position as a major player in the bitcoin treasury space, with its total investment reflecting a high average purchase price per coin compared to current market values.
With the latest buy, MSTR has invested over $75,862 per coin on average for its holdings of bitcoin, highlighting their aggressive strategy in the cryptocurrency market.
