First Bitcoin Acquisitions in Nearly Three Weeks
By James Van Straten|Edited by Oliver KnightUpdated 1 hour agoPublished 1 hour ago1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Strategy acquired 950 bitcoins last week, marking its first weekly purchases since late August.
- The acquisition was financed using its USD reserves and cash holdings.
- Shares rose by 7% early Monday, as bitcoin traded around $84,500.
Strategy MSTR$168.17 made its initial bitcoin purchase in almost three weeks, acquiring 950 BTC for a total of $75.7 million last week, at an average price of $79,670 per bitcoin.
This purchase was funded through the company's USD reserves, as indicated in a regulatory filing released on Monday morning. The firm utilized $174 million in USD cash for stock buybacks and $75.7 million in USD cash for the bitcoin purchase. Additionally, $57.4 million from the USD reserves was allocated for dividend payments on preferred stock. Currently, the USD reserves amount to $5 billion, while USD cash stands at $1 billion.
Under the leadership of Executive Chairman Michael Saylor, Strategy now possesses 846,000 BTC, which were acquired for a cumulative total of $63.81 billion, averaging $74,417 per coin.
Shares of MSTR increased by 7% in pre-market trading, coinciding with bitcoin's rise to $84,500, which represents a 4.5% increase over the past 24 hours.
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