Strategy buys 950 Bitcoin for $76 million as holdings hit 846,000
Alongside the Bitcoin purchases, the company repurchased nearly 1.8 million STRC preferred shares for $174 million using USD Cash.
Business intelligence company Strategy bought 950 Bitcoin for about $76 million last week, taking its total stash to 846,000 BTC worth nearly $72 billion, the company said Monday.
The Bitcoin proxy used USD Cash for the latest acquisition at an average price of $79,670 per coin. The flagship digital asset traded close to $85,000 at press time, its highest level since late January, per CoinGecko.
The latest holdings figure is the highest Strategy has reported since June, when it sold 1,363 BTC after its holdings had reached a record 847,363 BTC. Strategy’s cumulative Bitcoin purchases now total $63.8 billion, with an average acquisition price of $75,416 per BTC, and the company reported no BTC sales under its at-the-market offering last week.
Strategy also disclosed spending $174 million in USD Cash to repurchase nearly 1.8 million STRC preferred shares.
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At the end of the period, its USD Reserve was above $5 billion and USD Cash stood at around $1 billion, while $57.4 million from the reserve was used to pay preferred-stock dividends and interest on outstanding debt.
Shares of Strategy surged about 7% in premarket trading today after closing 16% higher on Friday, Yahoo Finance data shows.