Strategy broke a two-month buying drought last week, picking up 4,603 bitcoin for $369.7 million at an average price of $80,318 per coin.
Funding the purchase
The company sold $602.8 million in common stock to finance the acquisition, according to a Monday morning press release.
Part of those proceeds also went toward $151.8 million in buybacks of the company’s STRC preferred stock, with the remainder added to Strategy’s cash reserves.
Growing the treasury
Executive Chairman Michael Saylor’s firm now holds a total of 845,050 bitcoin, acquired for a cumulative $63.73 billion at an average cost basis of $75,412 per coin.
The purchase marks Strategy’s first weekly buy since late June, ending a pause that had stretched through most of the summer.
Market reaction
MSTR shares climbed 1.65% in pre-market trading Monday, with bitcoin hovering around $78,400.
The move was largely flat from late Friday’s levels, suggesting the market had already priced in a potential resumption of buying.
Strategy remains the largest corporate holder of bitcoin by a wide margin, with its total holdings now worth roughly $66 billion at current market prices.
