Strategy sold 1.47 million MSTR shares for $246.2 million, using the proceeds for Bitcoin purchases and STRC preferred stock repurchases.
Michael Saylor’s Strategy bought 1,665 Bitcoin for $142.7 million last week, lifting its holdings to 847,666 BTC as the company sold common shares to fund the purchase.
The company bought the Bitcoin at an average price of $85,681 per coin between Monday and Sunday, Strategy said in a Sept. 28 8-K filing with the US Securities and Exchange Commission. Strategy has spent $63.95 billion on its holdings at an average price of $75,437 per Bitcoin, including fees and expenses.
Strategy funded the purchase with proceeds from MSTR stock sales. It sold 1.47 million shares for $246.2 million in net proceeds, allocating $142.7 million to Bitcoin and $103.5 million to repurchases of its STRC preferred stock.
Read more
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
If you want to read more News articles, you can visit our General category.
