Strategy has acquired 1,550 bitcoin for approximately $101 million, marking its first purchase after selling $2.5 million worth of the cryptocurrency. This acquisition boosts the company's total bitcoin holdings to 845,256 BTC.
Recent Stock Sales Fund New Bitcoin Acquisition
The company raised $181 million through stock sales, which not only funded the recent bitcoin purchase but also increased its cash reserves to $1 billion.
Highlights:
- Strategy's latest bitcoin buy adds 1,550 coins at a cost of around $101 million, increasing total holdings to 845,256 BTC.
- The firm enhanced its cash reserves to $1 billion, supported by a recent $181 million stock sale.
Michael Saylor, Executive Chairman of Strategy, confirmed the acquisition, which comes after a recent decline in bitcoin prices, with the cryptocurrency briefly dipping below $60,000 before recovering to above $62,000. This price movement followed Saylor's decision to sell 32 bitcoin on June 1.
