Strategy Invests in Bitcoin with $246 Million Stock Sale Proceeds
Strategy Inc., the parent company of Michael Saylor's Microstrategy (MSTR), has made significant investments in Bitcoin and repurchased shares using proceeds from a $246 million stock sale.
The company purchased 1,665 Bitcoin at an average price of $85,681 each, adding to its existing holdings of 847,666 Bitcoin. The total aggregate purchase price for these Bitcoin is approximately $63.95 billion, with an average purchase price per coin of $75,437.
Additionally, Strategy repurchased 1,534,530 shares of its own stock, STRC, at a total cost of $151.7 million. As of September 27, the company's USD Reserve stood at $5.02 billion and its USD Cash balance was $1 billion.