The company utilized proceeds from its common stock sale to finance its latest Bitcoin acquisition.
Michael Saylor-led Strategy (MSTR) expanded its Bitcoin holdings beyond 500,000 BTC with additional purchases made last week.
According to a filing on Monday morning, the company acquired 6,911 Bitcoin for $584.1 million at an average price of $84,529 per token.
This latest acquisition brought Strategy’s total holdings to 506,137 BTC, purchased for a cumulative $33.7 billion at an average price of $66,608 per Bitcoin.
The purchase was funded through the sale of 1.975 million shares of common stock, generating $592.6 million in proceeds.
Additionally, Strategy’s most recent preferred stock offering, $711 million in STRF, was priced late last week. So far, the company has sold 13,100 shares, raising $1.1 million, according to the filing.
MSTR shares climbed 4.8% in premarket trading, coinciding with Bitcoin’s weekend surge past $87,000.
