Strategy (MSTR), the biggest publicly listed corporate holder of bitcoin, returned to making substantial purchases last week after a period of smaller, routine additions. The company bought 10,624 BTC for $962.7 million, paying an average of $90,615 per coin.
The latest acquisition was funded largely through equity issuance. Strategy raised $928.1 million by selling common shares and generated another $34.9 million from the sale of STRD preferred stock.
With this purchase, the firm’s bitcoin reserves have grown to 660,624 BTC, accumulated at a total cost of $49.35 billion and an average entry price of $74,696.
Bitcoin itself has strengthened, rising 3% over the past 24 hours to around $94,000.
MSTR shares, which plunged to nearly $155 on Dec. 1 during a broad crypto-market rout, rebounded throughout the following week. The stock is up 2.1% in Monday’s premarket session at $182.74, though it still remains down over 50% across the past six months.
Although Strategy has continued buying BTC on a near-weekly basis, recent purchases had been relatively small as tough market conditions limited its ability to raise liquidity. Even with its stock under pressure, the company has leaned heavily on equity issuance—raising close to $2 billion two weeks ago to bolster cash reserves for preferred-dividend commitments, and nearly another $1 billion last week to fuel fresh bitcoin accumulation.
Executive Chairman Michael Saylor, speaking at the BTC Conference in Abu Dhabi, noted that he has spent the week meeting with sovereign wealth funds, banks, family offices and hedge funds throughout the Middle East.
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