Strategy (MSTR), the largest publicly traded bitcoin-holding company, ramped up its accumulation efforts last week with its first sizable buy in some time. The firm added 10,624 BTC to its balance sheet, spending $962.7 million at an average purchase price of $90,615.
The transaction was financed primarily through equity issuance. Strategy raised $928.1 million by selling common stock and secured an additional $34.9 million through the sale of STRD preferred shares.
With the latest addition, Strategy now holds 660,624 BTC in total. The company has spent $49.35 billion building this position, giving it an average cost basis of $74,696 per coin.
Bitcoin itself has firmed, rising 3% over the past 24 hours to around $94,000.
Shares of MSTR, which dropped to about $155 on Dec. 1 amid a sharp marketwide crypto selloff, recovered steadily throughout the week. The stock is up 2.1% in Monday’s premarket session at $182.74, though it remains more than 50% lower over the past six months.
Although Strategy has continued its weekly bitcoin purchases, most buys in recent months had been modest as worsening market conditions restricted its ability to raise fresh capital. Still, the company has aggressively sold stock—nearly $2 billion two weeks ago to boost cash reserves for preferred-dividend payments, followed by another $1 billion last week to fund new BTC acquisitions.
Executive Chairman Michael Saylor, speaking at the BTC Conference in Abu Dhabi, said he has been traveling across the Middle East this week, meeting with sovereign wealth funds, banks, family offices and hedge funds.
