Strategy Makes $1.34B Bitcoin Buy, Adding Another 13,390 BTC

Fresh off the heels of last week’s Strategy Conference, Strategy (MSTR) has resumed its bitcoin (BTC) accumulation, purchasing an additional 13,390 BTC. The company spent approximately $1.34 billion at an average price of $99,856 per bitcoin, according to a filing published on Monday. This latest acquisition brings Strategy’s total bitcoin holdings to 568,840 BTC, now worth over $59 billion based on the current bitcoin price of around $104,000. The average purchase price across the company’s entire stack has now adjusted to $69,287. The purchase was funded through two capital-raising mechanisms: an at-the-market (ATM) offering of its Class A common stock, and the issuance of shares from its Series STRK preferred stock. Between May 5 and May 11, the company raised $1.31 billion through the sale of common stock and issued 273,987 shares of the preferred stock series. Shares of MSTR are trading 2% higher in pre-market hours.

Source: CoinDesk