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Strategy adds 4,603 bitcoin after raising funds from stock sales
The company funded the buys with $602.8 million in common stock sales, while directing remaining proceeds to buybacks and cash reserves.
Strategy, the Michael Saylor-led bitcoin investment firm, resumed weekly bitcoin purchases after a gap of about two months, adding 4,603 BTC last week, according to CoinDesk.
CoinDesk reported the buys cost $369.7 million, implying an average purchase price of $80,318 per bitcoin, and that the company funded the acquisition by selling $602.8 million of common stock.
CoinDesk said the remaining proceeds were split between $151.8 million in buybacks of Strategy’s STRC preferred stock and additions to its cash reserves.
Following the transaction, CoinDesk reported Strategy holds 845,050 bitcoin purchased for $63.7 billion in total, at an average price of $75,412 each.
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