Michael Saylor and his embattled Strategy (MSTR) sold more common stock last week, using the proceeds to add a relatively small amount of bitcoin and $300 million in cash to its balance sheet.
The company sold about 2.7 million MSTR shares, according to a filing Monday morning, raising $335.5 million. Approximately $35 million of that amount was used to purchase 520 bitcoins at an average price of $67,068 each. The other $300 million was added to cash already on the balance sheet, bringing reserves to $1.4 billion.
The latest acquisition brings Strategy’s total bitcoin holdings to 847,363 BTC, acquired at a total cost of approximately $64.01 billion, or an average purchase price of $75,651 per coin.
