The company used proceeds from a common stock sale to facilitate its latest Bitcoin purchase.
Michael Saylor-led Strategy (MSTR) has expanded its Bitcoin holdings beyond 500,000 BTC after another significant acquisition last week.
As per a Monday filing, the company acquired 6,911 Bitcoin for $584.1 million, with an average purchase price of $84,529 per BTC.
This latest addition raised Strategy’s total Bitcoin holdings to 506,137 BTC, acquired at a cumulative cost of $33.7 billion, averaging $66,608 per coin.
The purchase was funded through the sale of 1.975 million shares of common stock, which generated $592.6 million in proceeds.
Additionally, Strategy’s recent preferred stock offering, worth $711 million in STRF, was priced late last week. So far, the company has sold 13,100 shares, raising $1.1 million, according to the filing.
MSTR shares climbed 4.8% in premarket trading, reflecting Bitcoin’s strong weekend rally above $87,000.
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