 
 
Bitcoin treasury giant Strategy has resumed its relentless BTC buying on Monday after taking a week-long hiatus from accumulating the alpha cryptocurrency.
Strategy Added 220 BTC Last Week
Strategy now holds 640,250 BTC, worth around $73 billion after announcing its latest buy. For perspective, the stockpile represents more than 3% of Bitcoin’s total 21 million supply. This has enabled Strategy to pad its lead as the largest corporate holder of Bitcoin.
Strategy’s average purchase price across its Bitcoin stockpile is $74,000 per coin, representing roughly $26 billion in unrealized gains. Strategy’s latest Bitcoin purchase continued the trend of modest acquisitions, underscoring a slowdown compared with the huge purchases seen earlier this year.
The Tysons Corner, Virginia, company formerly known as MicroStrategy said it acquired 220 BTC for approximately $27.2 million between Oct. 6 and Oct. 12 at an average cost of $123,561 per coin, according to an Oct. 13 press release. The latest buy came as Bitcoin smashed a fresh historic high above $126,080 on Oct. 6 before plummeting to $109,800 during the weekend’s massive crypto flash crash, according to data from CoinGecko.
Strategy Executive Chairman Michael Saylor teased the purchase announcement once again on Sunday, as he has for the past couple of months: “Don’t Stop ₿elievin.’” The company paused its Bitcoin buying last week as it made $140 million in dividend payments. Before the break, Strategy had made weekly purchases since April.
 
The latest acquisitions were made using proceeds from at-the-market sales of its perpetual Strike preferred stock, STRK, perpetual Strife preferred stock, STRF, and perpetual Stride preferred stock, STRD.
The cash came from selling $19.8 million worth of its STRF offering. At the same time, Strategy sold $1.7 million of its STRK offering and $5.8 million worth of its STRD offering. Featuring a 10% fixed non-cumulative annual dividend, STRD was introduced as Strategy’s third type of preferred shares in June.
Source: https://zycrypto.com/michael-saylors-strategy-resumes-bitcoin-purchases-with-27-million-buy-now-holds-mammoth-640250-btc/
