Strategy Adds to Bitcoin Holdings, Total Reaches 672,497 BTC
Strategy (MSTR), the largest publicly traded holder of bitcoin, resumed buying last week after boosting its cash reserves.
A Monday filing revealed the company purchased 1,229 BTC for $108.8 million, at an average price of $88,568 per coin. This follows a recent cash increase that raised its U.S. dollar reserves to $2.2 billion.
The acquisition brings Strategy’s total bitcoin holdings to 672,497 BTC, acquired for a cumulative $50.44 billion, with an average cost of $74,997 per bitcoin.
Funding for the purchase came from the sale of $108.8 million in Class A common stock.
In premarket trading, MSTR shares slipped 1% to $157, while bitcoin hovered around $87,000.
