Michael Saylor’s Strategy made another weekly Bitcoin purchase last week, marking the company’s 11th consecutive purchase. The MSTR stock price rose following the announcement of this latest purchase, paring most of its losses in premarket trading.
Strategy Acquires 17,994 BTC, MSTR Stock Price Rises
An SEC filing shows that the company acquired 17,994 BTC for $1.28 billion at an average price of $70,946 per Bitcoin. It now holds 738,731 BTC, which it acquired for $56.04 billion at an average price of $75,862 per Bitcoin.
The SEC filing also showed that Strategy used the MSTR and STRC stock to fund this latest purchase. It sold 6.3 million and 3.8 million shares, raising net proceeds of $899.5 million and $377.1 million, respectively.
This notably marks the company’s second-largest purchase this year, just behind the 22,305 BTC purchase it made in January. This is also the largest amount of proceeds Strategy has raised from the STRC at the market (ATM) program this year, with MSTR typically accounting for most of the proceeds from purchases, which has weighed on the MSTR stock price.
Strategy SEC filingAs CoinGape reported, Saylor had hinted about this Strategy Bitcoin purchase yesterday in his conventional X post. He posted the company’s BTC portfolio tracker, with the caption, “The Second Century Begins.”
Saylor and his company continue to accumulate amid this market downtrend, which has put their investment in the red. DropsTab data shows that Strategy is currently sitting on an unrealized loss of just over $6 billion on its BTC holdings.
Source: DropsTabThe MSTR stock price has climbed and pared its losses from earlier in the day amid the announcement of this latest Strategy Bitcoin purchase. TradingView data shows that Strategy’s stock price is trading at around $133, down less than 1% from last week’s close of $133.53.
Source: TradingView; MSTR Daily ChartSource: https://coingape.com/mstr-stock-price-climbs-as-michael-saylors-strategy-adds-17994-btc/
