MSTR Stock Rises as Strategy Announces New $42B ATM Program for Potential Bitcoin Buys
- MSTR stock increased over 2%, reaching a high of $140, currently trading around $138.
- Strategy announced a new at-the-market (ATM) program worth $21 billion for MSTR and another $21 billion for STRC shares.
- The company has purchased a total of 762,099 BTC, spending approximately $57.69 billion at an average price of $75,694 per Bitcoin.
- Last week, Strategy bought an additional 1,031 BTC for $76.6 million at an average price of $74,326 per Bitcoin.
- Strategy’s current unrealized loss on its Bitcoin portfolio stands at $3.4 billion.
The announcement of the ATM program is expected to support further Bitcoin acquisitions as the stock rises alongside Bitcoin’s recent rally above $70,000 amid geopolitical developments.
With the new ATM programs in place and ongoing purchases, Strategy aims to bolster its holdings while managing significant unrealized losses in its cryptocurrency investments.(Source)
