Strategy increases Bitcoin holdings to 499,226 BTC with small $10.7 million purchase
Strategy, previously known as MicroStrategy, has increased its Bitcoin reserves with a fresh acquisition of 130 BTC.
According to a March 17 filing with the US Securities and Exchange Commission (SEC), the company spent $10.7 million on this purchase and secured the assets at an average price of $82,981 per coin between March 10 and March 16.
Data from CryptoQuant indicates that this is the firm’s first Bitcoin acquisition in March. It is also one of its smallest, with only the April 2024 addition of 122 BTC being lower. This contrasts with the company’s previous large-scale acquisitions, which often involved billion-dollar purchases.
With this latest addition, Strategy now holds 499,226 BTC, valued at over $41 billion. The company’s average purchase price across its entire Bitcoin portfolio is $66,360 per BTC, totaling $33.1 billion.
The company funded its latest Bitcoin purchase by selling 123,000 shares of its Series A perpetual preferred stock (STRK Shares), which generated approximately $10.7 million in net proceeds.
Meanwhile, this acquisition follows the firm’s recent announcement of plans to raise $21 billion by issuing Class A strike preferred stock.
The post Strategy increases Bitcoin holdings to 499,226 BTC with small $10.7 million purchase appeared first on CryptoSlate.
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
