Disclosure: The author of this story owns shares of Strategy (MSTR).
Michael Saylor, CEO of Strategy (MSTR), the largest publicly traded corporate holder of bitcoin announced on Monday X the purchase of 535 bitcoins for approximately $43 million at an average price of approximately $80,340 per coin.
The purchases bring the company’s total holdings to 818,869 BTC, acquired for $61.86 billion at an average cost of $75,540. With Bitcoin currently trading above $81,000, Strategy’s stash is currently turning a profit.
Last week’s purchases were funded by $42.9 million raised through the sale of the company’s preferred stock, according to a May 11 SEC filing.
This purchase follows Strategy’s first-quarter earnings call, where the company said it was prepared to sell bitcoin to pay down convertible debt or fund dividend obligations, as long as the move remains accretive in terms of bitcoin per share.
MSTR shares rose more than 1% in premarket trading.
