MSTR Stock Price Rises as Strategy Acquires $369 Million Worth of Bitcoin

Strategy, the company behind the MSTR stock price, made significant moves in its Bitcoin holdings. Between August 24 and August 30, it acquired 4,603 BTC for $369.7 million at an average price of $80,318 per coin.

This purchase increased Strategy's total Bitcoin holdings to 845,050, valued at a whopping $63.73 billion, with an average acquisition price of $75,412 per BTC.

The company funded this transaction through its equity program by selling MSTR stock and allocating the net proceeds towards the Bitcoin purchase. The move also allocated another $50.7 million from MSTR sales toward dividends on STRC preferred stock and $151.8 million to repurchase STRC through its Digital Credit Securities Repurchase Program.

Strategy still has $1 billion available for MSTR share repurchases and $364.8 million left for preferred stock purchases under the same program. The company's Bitcoin sales have been under scrutiny, with analysts comparing them to previous transactions. Lookonchain reported an $84 million loss for Strategy based on a comparison of its latest purchase at $80,318 and earlier sales of 6,916 BTC at $62,081.