The company allocated proceeds from a common stock sale to fund its latest Bitcoin acquisition.
Michael Saylor-led Strategy (MSTR) has further increased its Bitcoin holdings beyond 500,000 BTC with another major purchase last week.
According to a Monday filing, the company bought 6,911 Bitcoin for $584.1 million, averaging $84,529 per BTC.
With this acquisition, Strategy now holds a total of 506,137 BTC, obtained for a cumulative $33.7 billion, with an average cost of $66,608 per coin.
The latest purchase was financed through the sale of 1.975 million shares of common stock, which generated $592.6 million in capital.
Additionally, Strategy recently priced a $711 million preferred stock offering in STRF late last week. So far, 13,100 shares have been sold, raising $1.1 million, per the filing.
MSTR shares rose 4.8% in premarket trading, coinciding with Bitcoin’s surge past $87,000 over the weekend.
