‘Best continue’: Michael Saylor’s Strategy buys another 487 bitcoin for $50 million as total holdings reach 641,692 BTC
Strategy acquired 487 more BTC for $50 million, bringing its total holdings to 641,692 BTC, as executive chairman Michael Saylor signaled continued accumulation.Summary
The bitcoin treasury company Strategy (formerly MicroStrategy) purchased an additional 487 bitcoins for approximately $49.9 million between November 3 and November 9, according to an SEC filing. This purchase brings Strategy's total bitcoin holdings to 641,692 BTC, acquired at an average cost of $74,079 per coin, representing a paper gain of about $20.5 billion at current prices. These latest acquisitions were funded using proceeds from at-the-market sales of its preferred stock programs (STRK, STRF, STRD, STRC). Michael Saylor, the company's executive chairman, previously hinted at the purchase by tweeting, "₿est Continue." Strategy is pursuing an aggressive capital raise strategy, including its '42/42' plan targeting $84 billion in equity offerings through 2027 for further bitcoin accumulation.
(Source：The Block)