Strategy Adds 1,665 Bitcoin to Holdings for $142.7M

Strategy, a company led by Michael Saylor, made a significant investment in Bitcoin last week. It acquired 1,665 BTC for $142.7 million, increasing its total holdings to 847,666 BTC.

The company purchased the Bitcoin at an average price of $85,681 per coin between September 25 and October 1. This purchase was funded by the proceeds from selling common shares, which generated $246.2 million in net proceeds.

Strategy allocated $142.7 million to buying Bitcoin and $103.5 million to repurchasing its STRC preferred stock. The company has now spent a total of $63.95 billion on its BTC holdings at an average price of $75,437 per coin, including fees and expenses.