Michael Saylor’s Strategy acquires 130 Bitcoin at an average price of $82,981
Key Takeaways
- Strategy scooped 130 Bitcoin during the week ending March 16.
- The acquisition was funded by selling series A preferred stock, generating $10.7 million in net proceeds.
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Business intelligence firm Strategy, formerly known as MicroStrategy, said today it had acquired 130 Bitcoin for $10.7 million at an average price of $82,981 per coin between March 10 and March 16.
The company resumed Bitcoin acquisitions after a two-week pause, following the purchase made in the week ending February 24. Last week’s acquisition was the smallest since April, according to data from Bitcoin Treasuries.
According to Strategy’s latest disclosure with the SEC, the purchase was funded by proceeds from the sale of 123,000 shares of Strategy’s 8.00% series A perpetual strike preferred stock (STRK Shares), which generated approximately $10.7 million in net proceeds. The company confirmed that no Class A common stock was sold during the same period.
The company’s total Bitcoin holdings now stand at 499,226 BTC, valued at over $41.6 billion. Strategy’s co-founder and executive chairman Michael Saylor said the company’s total holdings were purchased at an average price of $66,360 per BTC, including fees and expenses. The firm currently holds more than 2% of Bitcoin’s total 21 million supply.
The company’s shares closed Friday up 13% at around $297, having gained more than 77% over the past year, according to Yahoo Finance data. The stock is trading slightly lower in pre-market trading today.
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Author: Vivian Nguyen
