Bitcoin Magazine Strategy (MSTR) Adds 1,036 Bitcoin for $81.9 Million as Holdings Slip Below Cost
Strategy bought another 1,036 bitcoin last week. The Saylor-led firm spent $81.9 million at an average of $79,012 per coin between November 2 and November 8, a Monday 8-K filing shows, lifting total holdings to 850,364 BTC bought for $64.16 billion at an average of $75,456.
The coins were funded with net proceeds from MSTR common stock sales. Strategy sold about 2.05 million shares for $283.8 million, put $81.9 million into bitcoin, spent $188.3 million buying back its STRC preferred and parked $13.6 million in USD cash. No preferred stock was sold under the ATM during the week.
That buyback retired about 1.89 million STRC shares. Strategy still has $560.3 million left under its preferred repurchase program and $1.0 billion under its MSTR buyback authorization, with about $18.3 billion of MSTR still available under the ATM.
Source: Bitcoin Magazine
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