Bitcoin Magazine Strategy (MSTR) Adds 811 Bitcoin, Strive (ASST) Follows Suit With 124 as Both Keep Stacking
Strategy bought another 811 bitcoin last week. The Saylor-led firm spent about $65.5 million at an average of $80,846 per coin between October 26 and November 1, according to its 8-K filing on Monday. That brings total holdings to 849,327 BTC, bought for roughly $64.1 billion at an average of $75,451.
The money didn’t come from new preferred stock this time. Strategy sold about 1.18 million shares of MSTR common stock for roughly $164 million, sent $65.5 million into bitcoin, and parked the remaining $98.5 million in USD cash. It also spent around $208 million buying back about 2.1 million shares of its STRC preferred .
Strategy spent much of the year leaning on preferred issuance to fund purchases, and the company is now using the buyback to tidy up its preferred stack while still adding coins.
Source: Bitcoin Magazine
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