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Strategy Added 6.9K Bitcoin for $584M, Bringing Stack to 506K Tokens
The company used proceeds from the sale of common stock for this latest purchase.
What to know:
- Strategy acquired another 6,911 bitcoin over the past week at an average cost of $84,529 each.
- Funds for the additional purchases came from the sale of common stock.
- The company now holds 506,137 bitcoin purchased at an average price of $66,608 each.
Michael Saylor-led Stategy (MSTR) brought its bitcoin stake above 500,000 tokens with additional purchases made last week.
The company purchased 6,911 bitcoin for $584.1 million, or an average cost of $84,529 per token, according to a filing Monday morning.
STORY CONTINUES BELOW
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That brought the company's holdings to 506,137 BTC acquired for $33.7 billion, or an average cost of $66,608 each.
Strategy funded this latest acquisition via the sale of 1.975 million shares of common stock, which raised $592.6 million.
The company's latest preferred stock offering, $711 million of STRF, only priced late last week. To date, Strategy has sold 13,100 shares, raising $1.1 million, according to the filing.
MSTR is higher by 4.8% in premarket trading alongside a rally in bitcoin over the weekend to above $87,000.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
