Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The largest publicly traded corporate holder of Bitcoin, Strategy, increased its reserve by 2,486 BTC between February 9 and February 15. The average purchase price of the leading cryptocurrency was $67,710 per coin.
Related Posts
The company announced that it now holds a total of 717,131 Bitcoins (over 3% of the total supply). Since 2020, Strategy has invested more than $54.5 billion in Bitcoin, with an average acquisition cost of $76,027 per BTC.
The latest addition to the Bitcoin reserve was financed through the sale of common shares of MSTR and perpetual preferred shares of STRC.
In the past week, Strategy sold approximately 660,000 shares of MSTR for $90.5 million, while retaining the option for additional placement of nearly $7.88 billion. Additionally, 785,354 shares of STRC were sold for about $78.4 million; the reserve of these securities amounts to another $3.54 billion.
The issuance of preferred shares from the series STRK, STRC, STRF, and STRD, totaling over $31 billion, aligns with a plan named “42/42.” This plan aims to raise $84 billion through the issuance of shares and convertible bonds for Bitcoin investments by 2027.
Previously, Strategy’s chairman, Michael Saylor, stated that the company could withstand a decline in the leading cryptocurrency down to $8,000.
