Strategy has extended its relentless Bitcoin (BTC) buying spree by purchasing an additional $1.28 billion worth of Bitcoin.
This comes after Michael Saylor, the company’s executive chairman, teased the purchase on Thursday.
Approaching 740,000 BTC
According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the corporate intelligence and software firm acquired 17,994 Bitcoin (BTC) between March 2 and March 8. Its average purchasing price was $70,946 per BTC.
With this latest purchase, Strategy’s total aggregate Bitcoin holdings have reached a staggering 738,731 BTC.
The company has spent a total of $56.04 billion to build this reserve. Its average purchase price currently stands at $75,862 per coin.
The latest purchase has been financed with the help of the company’ss at-the-market (ATM) offering program.
During the same March 2 to March 8 window, the company raised approximately $1.276 billion in net proceeds through the sale of both common and preferred stock:
The company still has over $6.7 billion available for issuance under its MSTR common stock program, and tens of billions available across its various preferred stock tiers (including STRF, STRC, STRK, and STRD).
Source: https://u.today/breaking-strategy-buys-13-billion-worth-of-bitcoin-btc
