Strategy (MSTR) acquired 1,550 bitcoins for approximately $101 million, increasing its total holdings to 845,256 BTC, according to a Monday announcement from CEO Michael Saylor.
The purchase comes after Bitcoin fell around 15% last week, briefly trading below $60,000 before recovering above $62,000. The drop in bitcoin price occurred, at least partially, after Saylor sold 32 bitcoins on June 1.
The latest acquisition marks the first purchase since the company’s bitcoin sale and expands Strategy’s reserve while increasing the liquidity of its balance sheet.
The company revealed that it increased its US dollar reserves by $100 million, bringing total cash reserves to $1 billion. To finance both initiatives, Strategy issued $181 million in common stock during the period.
The latest purchase was made at an average price of $65,332 per bitcoin, below Strategy’s overall average acquisition price of $75,680. After the purchase, the company owns 845,256 BTC acquired for just under $64 billion.
Read more: Michael Saylor revives bitcoin purchase speculation as scrutiny over strategy grows
