Strategy Buys 4603 Bitcoin with $369.7 Million in Proceeds
Strategy, an investment company, has made significant cryptocurrency investments in recent days. Between August 24 and August 30, Strategy sold approximately 4.5 million shares of its Class A Common Stock, generating net proceeds of $602.8 million through its at-the-market offering program.
The company used a substantial portion of these funds to acquire 4,603 Bitcoin at an average price of $80,318 per coin, inclusive of fees and expenses.
As of August 30, Strategy held a total of 845,050 Bitcoin, acquired at an aggregate cost of $63.73 billion and an average purchase price of $75,412 per coin.
In addition to its Bitcoin investments, Strategy used some funds to repurchase shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) under a separate program.