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Strategy Bought Nearly $1B in Bitcoin Last Week as Company Returns to Big Purchases
Source: CryptoNewsNet Original Title: Strategy Bought Nearly $1B in Bitcoin Last Week as Saylor’s Company Returns to Big Purchases Original Link: Strategy (MSTR), the largest publicly traded company holding bitcoin, returned for at least one week to making notably large purchases of bitcoin BTC $91,640.56.
The company added 10,624 bitcoin last week for $962.7 million, or an average price of $90,615 each.
The acquisition was funded mostly by the sale of $928.1 million in common stock; there was also the sale of STRD preferred stock raising $34.9 million.
Total bitcoin holdings now stand at 660,624 coins acquired for $49.35 billion, or an average cost of $74,696 each.
Bitcoin was higher by 3% over the past 24 hours to $94,000.
MSTR reached a low of about $155 on Dec. 1 amid a panicky sell off in all things crypto late last weekend and into Monday. The stock bounced from those levels for the remainder of the week. Shares are higher by 2.1% to $182.74 in premarket trading on Monday, but still lower by more than 50% over the past six months.