Strategy Boosts Bitcoin Holdings with Recent Billion-Dollar Acquisition

Strategy (MSTR) has acquired a total of 7,390 BTC for an approximate cost of $764.9 million, translating to an average price of $103,498 each. This information comes from a filing made on Monday.

This new purchase boosts the company’s overall bitcoin holdings to 576,230 BTC, which currently holds a value of around $59 billion based on the prevailing market price of about $103,000 per bitcoin. The latest estimated average cost for Strategy’s entire bitcoin portfolio is now approximately $69,726.

The acquisition was funded via an at-the-market (ATM) initiative involving its Class A common stock and the creation of Series A STRK preferred stock. From May 12 to May 18, Strategy generated approximately $705.7 million through the sale of common stock, in addition to issuing 621,555 shares of its STRK preferred stock.

As it stands, bitcoin prices hover near $103,000, while shares of MSTR have seen a decline of over 1% in pre-market trading.