Strategy increased its bitcoin portfolio to 506,000 BTC by buying $584 million more
By ForGeeks Michael Saylor-led Strategy continues to aggressively grow its cryptocurrency holdings. This week, it was revealed that it acquired another 6,911 Bitcoins worth $584.1 million, taking it past the symbolic mark of half a million BTC.
Saylor’s strategy is now in the midst of an aggressive expansion of its cryptocurrency holdings.
The average purchase price was $84,529 per bitcoin, according to a new report filed Monday morning. Including the latest transaction, Strategy now owns 506,137 BTC, bringing its total purchase price to $33.7 billion, at an average rate of $66,608 per token.
All of which has been purchased at an average rate of $66,608 per token.
The deal was funded by the sale of 1.975 million common shares, bringing the company $592.6 million.
The report also mentions STRF’s recent placement of preferred stock $711 million, which was valued just last week. So far, Strategy has sold 13,100 preferred shares, raising $1.1 million.
The news of the big purchase came at a time when bitcoin broke the $87,000 mark, sparking a wave of optimism in the market. Shares of MSTR reacted by rising by 4.8% at the premarket.
Strategy remains the largest corporate holder of bitcoin, betting not only on the cryptocurrency’s growth, but also on its long-term role as a digital asset with limited issuance.
