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Strategy buys $370M Bitcoin in first purchase since mid-June

Strategy acquired 4,603 Bitcoin at an average of $80,318 each, funded by net proceeds from a 602 million MSTR common stock sale.

Reported · Written up by our desk · Market Structure

Michael Saylor’s Strategy said it bought 4,603 Bitcoin for $370 million, its first corporate Bitcoin acquisition in about two months, after being inactive since mid-June.

According to a Monday 8-K filing with the U.S. Securities and Exchange Commission, the company paid an average of $80,318 per coin and increased its holdings to 845,050 Bitcoin, acquired for $63.3 billion at an average price of $75,413.

Strategy funded the purchase with net proceeds from a 602 million MSTR common stock sale, allocating $30 million to raise its USD cash reserve and $151.8 million to repurchase its perpetual STRC preferred stock.

Cointelegraph also noted that MSTR was up less than 1% in Monday pre-market trading after dropping more than 7% on Friday, and that STRC was trading around a discount to its $100 par value, a structure Strategy uses to finance Bitcoin accumulation.

Latest closeBitcoin $77,877.93 ▲0.1%

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