Strategy Marks 100th Bitcoin Purchase With $40M Buy

Michael Saylor's company, Strategy, has made its 100th Bitcoin purchase. The latest acquisition consists of 592 coins purchased at an average price of $67,286 per coin, with fees and expenses included. This brings Strategy's total holdings to 717,722 Bitcoin, which represents more than 3.4% of the fixed 21 million coin supply.

The purchase was funded through the sale of 297,940 shares of Strategy's Class A common stock under its at-the-market offering program, generating net proceeds of approximately $39.7 million. The company's total position in Bitcoin is worth around $47.5 billion at current market prices.

Strategy first allocated $250 million to Bitcoin in August 2020 and has continued accumulating across multiple market cycles using equity issuance and other capital market instruments. At the time of writing, roughly $7.8 billion worth of MSTR shares remain available for issuance and sale under the program.