Strategy Snaps Up $370M in Bitcoin, Resumes Accumulation
Strategy, the company led by Michael Saylor, has made its first corporate purchase of Bitcoin since mid-June. The $370 million acquisition brings Strategy's total holdings to 845,050 BTC, with an average price of $75,413 per coin.
The purchase was funded by the net proceeds of a 602 million MSTR common stock sale. After using $30 million for its USD Cash reserve and $151.8 million to repurchase STRC preferred stock, Strategy acquired 4,603 BTC at an average price of $80,318 per coin.
This move marks a significant increase in Bitcoin holdings for Strategy, which has been acquiring the asset since last year. The company's perpetual preferred stock, STRC, gained 0.44% in pre-market activity on Monday, trading below its intended par value of $100.