Recent Bitcoin Acquisition by Strategy
Strategy (MSTR) has made headlines once again by expanding its already significant Bitcoin (BTC) portfolio. The company recently sold a small number of its preferred stock (STRK) to finance this strategic move, resulting in the purchase of 130 additional Bitcoin.
Details of the Purchase
According to a filing made public on Monday, Strategy spent approximately $10.7 million on this acquisition, which translates to an average cost of about $82,981 per Bitcoin. This latest investment reflects a year-to-date “BTC yield” of 6.9%, highlighting the potential profitability of their Bitcoin strategy.
Current Holdings and Financial Overview
With this recent purchase, Strategy now boasts a total of 499,226 Bitcoin, acquired at a staggering overall expense of $33.1 billion. This means the average cost per token stands at around $66,360, showcasing the company’s commitment to Bitcoin as a core asset in its investment strategy.
Funding the Acquisition
The funds for this latest Bitcoin buy were secured through the sale of 123,000 shares of STRK, which generated net proceeds of about $10.7 million. Furthermore, Strategy has announced a substantial at-the-market offering of its preferred stock, valued at $21 billion, to further bolster its investment capabilities.
This latest move underscores Strategy’s ongoing commitment to strengthening its position in the cryptocurrency market and capitalizing on the opportunities presented by Bitcoin.
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