Brief Summary: Strategy, which was once MicroStrategy, bought 130 BTC to its inventory for $10.7 million, bringing its total holding to 499,226 BTC. The company, established by Michael Saylor, continues to believe in its Bitcoin strategy despite market volatility and a loss in its stock price.
Bitcoin corporate giant Strategy has added to its holdings, purchasing 130 BTC for around $10.7 million at an average price of $83,000 per BTC. The latest purchase contributes to the company’s total Bitcoin holding of 499,226 BTC, valued at over $33 billion with an average price of $66,360 per BTC.
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Strategy creator Michael Saylor purchased the unit on March 17, marking a 6.9% return on BTC year-to-date. Despite the purchase, Strategy’s STRK shares fell 1% during pre-market trading, Nasdaq data indicates.
The disclosure is a week after Strategy stated that it would raise more capital to buy more Bitcoins even if there is doubt in the market. The company will raise $21 billion using its class A strike preferred stock issue, a component of its ambitious “21/21” plan to raise and invest $42 billion worth of Bitcoin.
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An SEC filing recently suggests Strategy could use proceeds from sale for general corporate purposes, including further Bitcoin purchases. The company also has a buyback option in the event STRK drops 25% below its issue price.
