Strategy Snaps Up $2 Billion Worth of Bitcoin for Second Time in Less Than a Month
Michael Saylor's firm, Strategy (MSTR), has made its second $2 billion Bitcoin purchase in less than a month. The company acquired 24,869 BTC for around $2.01 billion, bringing its total holdings to roughly 843,783 BTC at an average price of $75,700.
This purchase was funded through the sale of Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), generating approximately $1.95 billion in net proceeds. Additionally, the company sold 430,344 shares of MSTR common stock, raising an extra $83.7 million.
MSTR's stock price dropped over 3% in pre-market trade on Monday due to this latest transaction, amid a broader decline in the cryptocurrency market. Bitcoin's price fell around 1% in the last 24 hours to approximately $77,600.