Michael Saylor’s Strategy Leads to Back-to-Back $1B Bitcoin Purchases Last Week

Strategy (MSTR), the largest publicly traded holder of bitcoin, continued its aggressive accumulation for the second consecutive week despite ongoing share price challenges.

Last week, the company purchased 10,645 BTC for $980.3 million, at an average price of $92,098 per coin. Strategy’s total bitcoin holdings now stand at 671,268 BTC, acquired for $50.33 billion at an average of $74,972 per coin.

The purchase was primarily funded through $888.2 million in common stock sales, with most of the remainder coming from the company’s STRD preferred stock series, according to a Monday filing.

This marks the second straight week in which Strategy has acquired roughly $1 billion worth of bitcoin. While the company has consistently added to its BTC holdings in recent months, most weekly purchases were previously smaller due to fundraising constraints. Over the past two weeks, Michael Saylor and his team have taken an aggressive approach, selling common stock to finance the purchases despite concerns about shareholder dilution.

MSTR shares are flat in premarket trading, while bitcoin has pulled back to around $89,600 following weekend declines.

Separately, Strategy confirmed it will remain a constituent of the Nasdaq 100 and sent a letter to MSCI last week opposing the index provider’s proposal to exclude digital assets.