Strategy purchased 1,036 Bitcoin for $81.9 million last week, bringing its total holdings to 850,364 BTC. The company disclosed the acquisition in a Monday filing with the US Securities and Exchange Commission.
Strategy paid an average of $79,012 per Bitcoin in the recent transaction. The company stated its total expenditure on Bitcoin has reached $64.16 billion, with an overall average price of $75,456 per coin. Strategy said these holdings represent approximately 4.05% of Bitcoin’s maximum 21 million supply.
Capital raises and share repurchases
To fund its operations, Strategy raised $283.8 million in net proceeds last week by selling about 2.05 million shares of its common stock (MSTR) through an at-the-market offering program. The company used $188.3 million of these proceeds to repurchase approximately 1.89 million STRC preferred shares, following $208.2 million in buybacks the previous week.
Since early October, Strategy has spent about $1.06 billion repurchasing STRC preferred shares, compared with $219.7 million spent on Bitcoin purchases during the same period. From the remaining proceeds of the recent stock sale, the company allocated $81.9 million to the Bitcoin purchase and added $13.6 million to its USD Cash balance.
Cash reserves and market data
Strategy’s USD Cash balance rose about 10% to $146.2 million from $132.7 million. Its separate US dollar reserve decreased to $4.77 billion from $4.79 billion after the company drew $21.1 million to pay dividends on its preferred stock.
The latest acquisition follows a purchase of 811 BTC for $65.5 million the prior week. In Monday premarket trading, Strategy’s common stock fell 3% to $125, while its STRC preferred shares edged down 0.06% to $99.7, according to Yahoo Finance data.
