Strategy Buys More Bitcoin, Holdings Reach All-Time High
Strategy (MSTR) has made another sizable bitcoin investment, purchasing 7,390 BTC for approximately $764.9 million, according to a regulatory filing on Monday. The average purchase price for this latest tranche was $103,498 per bitcoin.
With this acquisition, Strategy’s total bitcoin holdings now stand at 576,230 BTC — valued at around $59 billion based on current market prices of roughly $103,000 per coin. The company’s cumulative average cost per bitcoin has risen to $69,726.
To finance the purchase, Strategy utilized proceeds from an at-the-market (ATM) offering of its Class A common stock, raising $705.7 million between May 12 and May 18. It also issued 621,555 shares of its Series A STRK preferred stock during that time.
Bitcoin is currently trading near $103,000. Shares of MSTR are down more than 1% in pre-market trading Monday.
