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.
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cointelegraph.com