Strategy (MSTR) has made a substantial addition to its cryptocurrency portfolio by acquiring another 15,355 BTC over the past week. This investment required a financial outlay of approximately $1.42 billion, averaging a purchase price of $92,737 per bitcoin, according to a recently published filing.
With this latest purchase, the company’s total bitcoin holdings have surged to 553,555 BTC. At the current market rate, where bitcoin is valued just above $95,000, these holdings are worth in excess of $52 billion. The average acquisition cost for Strategy’s entire bitcoin reserve now stands at $64,459 per bitcoin.
This recent acquisition was funded through proceeds generated from Strategy’s two at-the-market stock offerings, as detailed in the filing. Between April 21 and April 27, Strategy successfully sold over $4 million in Class A common stock and issued more than 435,000 shares of its preferred stock series, identified as STRK.
The market responded positively to this investment strategy, with shares of MSTR experiencing a 1.5% increase in pre-market trading. This rise coincides with a modest uptick in bitcoin’s price since Friday afternoon.
Source: Coindesk.com
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