"Strategy has completed its 100th bitcoin acquisition since adopting the cryptocurrency as its primary reserve asset in 2020, purchasing 592 BTC for roughly $39.8 million at an average price of $67,286 per coin. The purchase was funded through the sale of 297,940 shares of its Class A common stock via its at-the-market offering program between February 17-22, generating $39.7 million in net proceeds, according to a company statement."
"Including this latest acquisition, Strategy now holds 717,722 bitcoin, acquired for an aggregate $54.56 billion at an average price of $76,020 per bitcoin, making it the largest corporate bitcoin treasury in the world. The company still has $37.4 billion in securities available for future issuance under its at-the-market program, including $7.8 billion of MSTR stock and $20.3 billion of STRK stock."
"The timing of the purchase coincides with renewed weakness in bitcoin, which dropped from around $68,000 over the weekend to near $66,000, putting pressure on MSTR shares. The stock has fallen more than 2% to around $128 in premarket, reflecting the strong correlation between Strategy's bitcoin exposure and its share price. Michael Saylor, Executive Chairman, hinted at the purchase on X, posting the company's bitcoin tracker with the caption "The Orange Century," signaling the milestone 100th acquisition."
Strategy purchased 592 BTC for roughly $39.8 million at an average price of $67,286, marking its 100th acquisition since making bitcoin its primary reserve asset. The purchase was funded by selling 297,940 Class A shares via its at-the-market offering between February 17-22, generating $39.7 million in net proceeds. Strategy now holds 717,722 bitcoin acquired for an aggregate $54.56 billion at an average price of $76,020 per coin. The company maintains $37.4 billion in securities available for future issuance under its at-the-market program and a public dashboard detailing holdings. The buy coincided with a bitcoin pullback and pressure on MSTR shares. Michael Saylor highlighted the milestone on X and asserted the company will not sell its bitcoin holdings, citing sufficient cash to cover dividends and debt.
Read at Bitcoin Magazine
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