Strategy Acquires 1,045 Bitcoin for $110M as Bitcoin Trades Near All Time High


Strategy Acquires 1,045 Bitcoin for 0M as Bitcoin Trades Near All Time High



Strategy has added 1,045 Bitcoin to its corporate holdings, spending approximately $110.2 million, according to a U.S. Securities and Exchange Commission (SEC) filing submitted on Monday. 

The purchase was made at an average price of $105,426 per Bitcoin.

Following the acquisition, Strategy now holds approximately 582,000 Bitcoin. The total cost basis for these holdings stands at about $40.8 billion, with an average acquisition price of $70,086 per coin.

The purchase follows a June 8th post by Strategy Executive Chairman Michael Saylor, who suggested the company had made an additional Bitcoin acquisition. 

This marks the ninth consecutive week of reported Bitcoin purchases by the firm.

This latest acquisition coincides with Strategy’s announcement of an increased capital raise. 

The company revised its planned offering from $250 million to $1 billion, with proceeds allocated toward additional Bitcoin purchases and general corporate purposes.

The offering involves issuing 11.76 million shares of its 10.00% Series A Perpetual Stride Preferred Stock at $85 per share. 

After deducting underwriting discounts and other related costs, Strategy expects net proceeds of approximately $979 million.

The preferred stock offering includes non-cumulative dividends set at 10% annually and is positioned toward institutional investors seeking fixed-income instruments.

Strategy began purchasing Bitcoin in August 2020, initially acquiring 21,454 Bitcoin for $250 million. Its total holdings now represent over 2.75% of the current Bitcoin supply.





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