Strategy Buys $555M of Bitcoin, Increases Total Stash to 538,200 BTC
Strategy (MSTR) has added 6,556 bitcoin (BTC) to its balance sheet, spending $555.8 million in the process, according to a regulatory filing published on Monday.
The purchase was funded using proceeds from the company's two at-the-market (ATM) stock offering programs, the filings notes.
The firm, the largest corporate holder of bitcoin, sold 1.76 million shares of its Class A common stock and over 91,000 shares of a preferred stock series — STRK - between April 14 and April 20.
The common stock sale brought in $547.7 million, while the preferred shares added another $7.8 million. The latest acquisition boosts Strategy’s total holdings to 538,200 BTC, purchased at an average price of $67,766 per coin.
The Michael Saylor-led company has spent $36.47 billion on bitcoin to date. Shares of MSTR are up 2.77% in pre-market trading as BTC rose to $87,300.