Strategy Added 850 Bitcoin for Nearly $100M Last Week
Strategy (MSTR) continued to add to its bitcoin (BTC) stash last week, though it was a relatively small purchase.
The company Monday said it bought another 850 BTC for $99.7 million, increasing its total holdings to 639,,825 coins. This purchase was made at an average price of $117,344 per bitcoin, lifting the company’s overall average purchase price to $73,971.
This latest acquisition was funded through the issuance of perpetual preferred stock and common stock at-the-market (ATM), though about 80% of that funding was through common stock sales.
Shares of MSTR were down 2.5% in premarket trading alongside a sizable slide in the price of bitcoin to about the $112,000.
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