Strategy Returns to Large Bitcoin Buys, Adding $835M Last Week
Strategy (MSTR) acquired 8,178 BTC for $835.6 million last week, financed primarily through preferred share offerings.Summary
Michael Saylor's company, Strategy (MSTR), resumed large Bitcoin purchases last week, acquiring an additional 8,178 BTC for $835.6 million, averaging $102,171 per coin. This significant buy was financed mainly through the sale of its latest preferred offering, STRE, which raised about $715 million, supplemented by $131.4 million from the STRC preferred series. The company's total holdings now stand at 649,870 BTC, acquired for an average price of $74,433 each. These large purchases were made possible because a sharp decline in MSTR's stock price—down about 56% in four months—had previously prevented large common share offerings, as issuing common stock would be dilutive to existing holders given the stock's enterprise value is barely above the value of its Bitcoin holdings.
(Source：CoinDesk)