Strategy (MSTR), the largest publicly traded holder of bitcoin, continued its aggressive buying for a second consecutive week, despite pressure on its share price.
Last week, the company added 10,645 BTC for $980.3 million, averaging $92,098 per coin. Strategy’s total holdings now total 671,268 BTC, acquired for $50.33 billion at an average of $74,972 per bitcoin.
According to a Monday filing, the purchase was primarily funded through $888.2 million in common stock sales, with the remainder coming from the company’s STRD preferred stock series.
This marks two straight weeks of roughly $1 billion in bitcoin purchases. While weekly buys had previously been smaller due to fundraising constraints, Michael Saylor and his team have aggressively sold common stock to fund acquisitions, setting aside concerns about shareholder dilution.
MSTR shares are flat in premarket trading, while bitcoin has pulled back to around $89,600.
Additionally, Strategy confirmed it will remain a Nasdaq 100 constituent and submitted a letter to MSCI opposing the exclusion of digital assets from its indexes.
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