Michael Saylor's Strategy has made headlines by acquiring 1,665 Bitcoin for approximately $142.7 million. This purchase brings the company's total Bitcoin holdings to a staggering 847,666 BTC.
The acquisition was financed through the sale of 1.47 million shares of MSTR, generating $246.2 million in net proceeds. Of this amount, $142.7 million was earmarked for Bitcoin purchases, while $103.5 million was allocated for repurchasing STRC preferred stock.
According to a recent filing with the US Securities and Exchange Commission, Strategy bought the Bitcoin at an average price of $85,681 per coin. To date, the company has invested $63.95 billion in its Bitcoin holdings, averaging $75,437 per coin, including fees and expenses.
In addition to the recent Bitcoin purchase, Strategy repurchased 1.53 million STRC shares for $151.7 million. The company's cash reserves have seen a slight decline, with its "USD Cash" balance dropping to $1 billion after funding stock repurchases.
As Strategy continues to expand its Bitcoin portfolio, it remains focused on maintaining its financial health and covering preferred stock dividends and debt interest, with a separate US dollar reserve of $5.02 billion.