Strategy ($MSTR) Buys $204 Million In Bitcoin

"The company now holds 720,737 BTC acquired for about $54.77 billion, or an average price of roughly $75,985 per bitcoin. With bitcoin trading near $65,500 on Monday morning, the company's position reflects an unrealized loss based on its aggregate cost basis."

"Measured against bitcoin's 21 million supply cap, the company controls more than 3.4% of the total eventual issuance, reinforcing its position as the largest publicly traded corporate holder of the asset."

"Strategy's capital markets activity forms part of its "42/42" plan, which targets $84 billion in equity offerings and convertible notes through 2027 to fund additional bitcoin acquisitions."

MicroStrategy acquired 3,015 bitcoin between February 23 and March 1 for approximately $204.1 million at an average price of $67,700 per coin. The company now holds 720,737 BTC purchased for about $54.77 billion at an average cost of $75,985 per bitcoin. With bitcoin trading near $65,500, the position reflects an unrealized loss. MicroStrategy controls more than 3.4% of bitcoin's 21 million supply cap, maintaining its position as the largest publicly traded corporate holder. The purchases were funded through at-the-market stock sales, including 1,730,563 shares of Class A common stock generating $229.9 million and 71,590 preferred shares raising $7.1 million. This represents the company's 101st bitcoin purchase since 2020, part of its "42/42" plan targeting $84 billion in equity offerings through 2027.

Read at Bitcoin Magazine