Strategy buys $370M Bitcoin in first corporate purchase since June
Strategy added to its BTC treasury for the first time in two months, while continuing to bolster its cash reserves and buy back its perpetual STRC preferred stock.
Michael Saylor’s Strategy acquired 4,603 Bitcoin for $370 million, marking the first acquisition from the largest corporate Bitcoin holder in two months.
Strategy acquired 4,603 Bitcoin (BTC) at an average purchase price of $80,318, pushing its holdings to 845,050 BTC, acquired for a total of $63.3 billion at an average price of $75,413, according to a Monday 8-k filing with the Securities and Exchange Commission.
The Bitcoin purchase was funded by the net proceeds of a 602 million MSTR common stock sale. The company used $30 million of the net proceeds to increase its USD Cash reserve and $151.8 million to repurchase its preferred STRC stock.
