Strategy buys 1,036 Bitcoin as BTC holdings climb to 850,364
Strategy bought $81.9 million in Bitcoin last week while spending $188.3 million repurchasing STRC preferred shares, according to its latest SEC filing.
Strategy secured an additional 1,036 Bitcoin last week, utilizing $81.9 million of its treasury funds. This acquisition increased the company's total Bitcoin holdings to 850,364 BTC. After purchasing the cryptocurrency at an average price of $79,012 per coin, the firm's overall Bitcoin investment reached $64.16 billion. Accounting for approximately 4.05% of Bitcoin's maximum supply of 21 million, Strategy now holds a significant stake in the digital asset.
Over the same period, the corporation also expended $188.3 million repurchasing STRC preferred shares. In contrast to its Bitcoin purchases, Strategy's STRC share repurchases accounted for a much larger share of the company's spending. The company raised $283.8 million in net proceeds from selling common stock during the week, which it allocated towards both Bitcoin and STRC share purchases. After the Bitcoin acquisition, Strategy's USD Cash balance grew to $146.2 million, up from $132.7 million.
Despite Strategy's substantial Bitcoin investment, the company's US dollar reserve declined by $21.1 million to $4.77 billion. This reduction in the reserve was primarily due to the company using funds to pay dividends on its preferred stock. Strategy's common stock showed a slight decline of 3%, trading at $125 in Monday's premarket trading, while its STRC preferred shares experienced a minor decrease of 0.06% to $99.7.
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