Strategy Adds $1.57B in Bitcoin, Extending Buying Streak
Strategy, the largest publicly traded holder of bitcoin, continued its aggressive accumulation strategy last week, purchasing $1.57 billion worth of BTC, according to a Monday filing.
The firm, led by Michael Saylor, acquired 22,337 bitcoin at an average price of $70,194 per coin. This brings Strategy’s total holdings to 761,068 BTC, accumulated at a total cost of $657.61 billion, or an average price of $75,696 per coin.
By volume, the latest purchase ranks as the company’s fifth-largest weekly bitcoin acquisition.
Bitcoin was trading around $73,600 on Monday morning, up 2.6% over the past 24 hours.
The bulk of the purchase was financed through $1.1 billion raised via sales of the company’s STRC preferred stock, alongside an additional $396 million generated from common stock sales.
Shares of Strategy (MSTR) rose about 4% in pre-market trading, tracking bitcoin’s weekend gains as the cryptocurrency climbed above $73,000.
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