Strategy Buys $1.57B in Bitcoin as Accumulation Continues
Strategy, the largest publicly traded holder of bitcoin, added another $1.57 billion worth of BTC last week, extending its ongoing buying streak, according to a Monday filing.
The company, led by Michael Saylor, purchased 22,337 bitcoin at an average price of $70,194 per coin. This brings total holdings to 761,068 BTC, acquired for a combined $657.61 billion, with an average cost basis of $75,696 per coin.
The latest purchase ranks as the firm’s fifth-largest weekly acquisition by volume.
Bitcoin was trading near $73,600 on Monday, up 2.6% over the past 24 hours.
The purchase was largely funded through $1.1 billion raised from the sale of STRC preferred shares, along with an additional $396 million from common stock issuance.
Shares of Strategy (MSTR) were up around 4% in pre-market trading, reflecting bitcoin’s gains over the weekend.
About The Author
More Stories
MARA likely to post a Q1 loss, with attention turning to its AI expansion plans.
XRP gains 2.5%, outpacing BTC and ETH in a breakout past the $1.45 level.
A Bitcoin whale inactive since 2013 has reemerged, moving $40 million in BTC.