Strategy Buys $217M Bitcoin Amid Price Stability
Strategy Increases Bitcoin Holdings with $217 Million Purchase
Strategy, the company helmed by Michael Saylor and the world's largest corporate holder of Bitcoin, has further increased its investment in the cryptocurrency. The company continued its accumulation strategy as the price of BTC remained relatively stable last week.
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Strategy acquired 1,955 Bitcoin (BTC) for $217.4 million between September 2nd and 7th.
Details of the Acquisition
- The purchase was executed at an average price of $111,196 per Bitcoin.
- This acquisition brings Strategy’s total Bitcoin holdings to 638,460 BTC as of Sunday.
- The total purchase price for all holdings is approximately $47.2 billion, with an average purchase price of $73,880 per BTC.
Recent Bitcoin Purchases
This latest purchase follows a series of buys in August, when Strategy added approximately 7,714 BTC to its holdings. While still significant, the August purchases were smaller than previous acquisitions, such as the 31,466 BTC bought in July and the 17,075 BTC acquired in June.
Funding the Purchase
The recent Bitcoin purchase was funded using proceeds from Strategy’s at-the-market (ATM) equity offerings, including the Series A Perpetual Strife Preferred Stock (STRF), the Series A Perpetual Strike Preferred Stock (STRK), and its own Common A stock MSTR.