‘Big week’: Michael Saylor’s Strategy buys another 8,178 bitcoin for $836 million, bringing total holdings to 649,870 BTC
Strategy purchased 8,178 more bitcoins for $835.6 million, increasing its total holdings to 649,870 BTC.Summary
Strategy, Michael Saylor's company, acquired an additional 8,178 bitcoins for approximately $835.6 million between November 10 and November 16, at an average price of $102,171 per coin, as detailed in an SEC 8-K filing. This purchase brings Strategy's total Bitcoin holdings to 649,870 BTC, acquired at an average cost of $74,433 per coin, representing over 3% of Bitcoin's total supply and implying significant paper gains.
The latest acquisitions were funded using proceeds from at-the-market sales of its preferred stock programs (STRK, STRF, STRC) and a recent euro-denominated preferred stock issuance (STRE). These programs are part of the company's larger "42/42" plan to raise up to $84 billion in equity offerings through 2027 to acquire more Bitcoin.
This announcement followed rumors that Strategy was selling Bitcoin, which Saylor vehemently denied, stating the company was buying aggressively. Analysts at Bernstein support Strategy's position, noting that despite its stock trading below its net asset value (mNAV), the company has strong institutional access to capital, conservative leverage, and management has confirmed no intention to liquidate its holdings.
(Source：The Block)