Strategy returns to bitcoin buys, adding $370 million worth last week
MicroStrategy has acquired an additional $370 million worth of bitcoin, bringing its total holdings to 845,050 coins. The purchase was financed through a common stock sale, as the company continues its aggressive corporate bitcoin accumulation strategy.
Why it matters
MicroStrategy's massive bitcoin treasury position significantly influences market sentiment and corporate adoption trends for cryptocurrency.
The acquisition was funded via the sale of $602.8 of common stock, according to a Monday morning press release . The remaining proceeds went toward $151.8 million in buybacks of the company’s STRC preferred stock and to add to Strategy’s cash reserves.
Led by Executive Chairman Michael Saylor, the company now holds 845,050 bitcoin purchased for $63.73 billion, or an average price of $75,412 each.
MSTR is up 1.65% pre-market as bitcoin trades at $78,400, up marginally from late Friday.
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