Strategy returns to bitcoin buys, adding $75 million of BTC last week
Strategy (MSTR$164.00·Market Closed made its first bitcoin purchase since late August, acquiring 950 $BTC for $75.7 million last week at an average price of $79,670 per coin.
The purchase was funded through the sale of $80.1 million of common stock, according to a Monday morning regulatory filing. The remaining proceeds were used to repurchase $174 million of the company’s STRC preferred stock and bolster its cash reserves.
Led by Executive Chairman Michael Saylor, Strategy now holds 846,000 $BTC, acquired for a total of $63.81 billion at an average price of $74,417 per coin.
MSTR shares rose 7% in pre-market trading as bitcoin climbed to $84,500, gaining 4.5% over the past 24 hours.
Bitcoin News Related Stocks Market Closed Strategy Inc$164.00+6.55%
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