Strategy Bought $370 Million Of Bitcoin Last Week

Strategy (NASDAQ: $MSTR) bought $370 million U.S. of Bitcoin (CRYPTO: $BTC) over the past week. 

It was the company’s first Bitcoin purchase in two months. Strategy acquired 4,603 Bitcoins at a cost of $369.7 million U.S. The company paid an average price of $80,318 U.S. per BTC.

Strategy said that it funded the latest Bitcoin purchases through the sale of $602.80 million U.S. of common stock. 

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The remaining proceeds from the stock sale went to $151.8 million U.S. in buybacks of the company’s preferred stock (NASDAQ: $STRC) and to add to its cash reserves.

Strategy now owns 845,050 Bitcoin purchased for $63.73 billion U.S.

The company, led by Executive Chairman Michael Saylor, acquired its Bitcoin holdings at an average price of $75,412 U.S. each.

Bitcoin is trading at $77,800 U.S. on Aug. 31. The largest cryptocurrency by market capitalization has gained 24% in August, its best monthly performance since November 2024. 

MSTR stock has declined 63% over the last 12 months to trade at $127.31 U.S. per share.

Source: finance.yahoo.com