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Michael Saylor’s approach resulted in another significant acquisition of bitcoin, adding $1.57 billion in value last week.
The company’s holdings now amount to 761,068 bitcoin, acquired for $57.61 billion.
What to know:
- Strategy acquired 22,337 bitcoin for $1.57 billion last week.
- The purchases were primarily funded through the sale of the company’s STRC series of preferred stock, with the remainder covered by common stock sales.
- MSTR shares rose by 4% in early trading, coinciding with a weekend increase in bitcoin’s price to $73,600.
Strategy (MSTR), the largest publicly traded holder of bitcoin globally, has continued its trend of significant weekly purchases, acquiring $1.57 billion worth of BTC, as stated in a Monday filing.
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Under the leadership of executive chairman Michael Saylor, the company procured 22,337 bitcoin at an average cost of $70,194 per coin, raising its total holdings to 761,068 coins, purchased for a total of $657.61 billion, or an average of $75,696 per coin.
This acquisition marks the fifth-largest weekly purchase of bitcoin by the company in terms of quantity.
On Monday morning, bitcoin was priced at $73,600, reflecting a 2.6% increase over the previous 24 hours.
The latest increment to the company’s bitcoin reserves was largely financed through $1.1 billion in sales of the firm’s STRC series of preferred stock. Additionally, the company sold $396 million in common stock.
MSTR shares have increased by 4% in pre-market trading as bitcoin experienced a rise over the weekend, currently valued at $73,600, up 2.6% in the last 24 hours.
