Strategy resumed its Bitcoin acquisitions with a $43 million buy as MSTR stock soared in pre-market trading after the leading corporate Bitcoin holder’s announcement.
Strategy added $43 million in Bitcoin last week after Michael Saylor drew mixed investor reactions for signaling potential BTC sales to fund dividend payments. Strategy bought 535 Bitcoin for $43 million last week, resuming its accumulation strategy days after its chairman, Michael Saylor, said the company may sell some of its holdings to fund dividend payments.
The world’s largest corporate Bitcoin holder acquired the Bitcoin between May 4 and May 10 at an average price of $80,340 per BTC,The purchase lifted Strategy’s total holdings to 818,869 BTC, acquired for about $61.86 billion at an average price of $75,540 per coin, including fees and expenses. Strategy Bitcoin acquisition, 8-K filing. Source: SEC The Bitcoin purchase was made using proceeds from share sales.
The majority of the acquisition, or $42.9 million, was funded through the sales of Class A common stock , while another $100,000 was funded through the issuance of Stretch stock, the filing shows. Strategy shares rose in premarket trading on Monday after the company disclosed the Bitcoin purchase. While some investors feared that a Strategy sale could create more cascading liquidations, others, such as Bitcoin advocate Samson Mow, said that Strategy’s potential sales can give it greaterEditorial Policy
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