Strategy, led by Michael Saylor, purchased another 520 Bitcoins last week. According to the company’s statement submitted on Monday morning, approximately $34.9 million was spent on this acquisition. Thus, Strategy’s total Bitcoin assets increased to 847,363 BTC.
New resource coming from share sales
These transactions were financed by the sale of Strategy’s common stock, the notice stated. The company sold approximately 2.7 million MSTR shares, generating $335.5 million in proceeds. Approximately 35 million dollars of this amount was used to purchase Bitcoin, while the remaining 300 million dollars was directly added to the cash assets on the balance sheet.
With this increase, the company’s cash reserves reached 1.4 billion dollars. Although Strategy is known for its software activities, it stands out with the heavy addition of Bitcoin to its balance sheet in recent years and is closely watched in the markets for this aspect.
The company’s latest statement revealed that $335.5 million from the sale of 2.7 million common shares was used both to purchase 520 Bitcoins and to strengthen cash reserves.
Total cost and average purchase price
With the latest purchase, the total cost of 847,363 BTC in Strategy’s possession increased to approximately 64.01 billion dollars. The company’s average Bitcoin purchase price was recorded as $75,651 per coin. The average price paid in the last transaction was $67,068.
This table shows that the company’s average cost remains above recent market prices due to purchases made at higher levels in previous periods. Despite this, Strategy seems to have continued its Bitcoin accumulation policy.
Concerns on the STRC front came to the fore
The main reason for expanding the company’s cash position was to provide confidence in dividend payments on preferred shares traded under the STRC code. It has been stated that investors have had questions about the durability of this security in recent weeks.
In the sharp selling wave seen on Thursday, the STRC price fell below $83, hitting its lowest level ever. The price recovered towards the close of the day. On Monday morning, shares rose 2 percent to $90.43. However, the level is still below the nominal value of $100.
MSTR shares also rose 3.5 percent on Monday. During this movement, the Bitcoin price also approached the $65,000 limit. The market reaction indicates that investors are considering both the new Bitcoin purchase and the increased cash buffer together.
