Strategy bought 950 Bitcoin for $75.7 million after a two-week pause and spent another $174 million repurchasing its STRC preferred stock.
Michael Saylor’s Strategy resumed buying Bitcoin after a two-week pause while continuing to repurchase its STRC preferred stock.
Strategy acquired 950 Bitcoin (BTC) for $75.7 million at an average price of $79,670 per coin between Monday and Sunday, according to a Form 8-K filing with the US Securities and Exchange Commission on Monday.
The purchase brought Strategy’s holdings to 846,000 BTC, acquired for about $63.8 billion at an average cost of $75,416 per Bitcoin, including fees and expenses. With Bitcoin trading at $84,925 at the time of publication, Strategy was sitting on an unrealized gain of about $8.05 billion on its holdings.
The purchase comes as Strategy balances its Bitcoin accumulation strategy with managing a growing collection of preferred securities and billions of dollars in cash reserves.
Shares of Strategy, the largest publicly traded Bitcoin treasury company in the world, rose 7.4% to $165.2 in pre-market trading on Monday, according to Yahoo Finance data. Strive, the world’s fifth-largest corporate Bitcoin holder, also announced Bitcoin buys on Monday. It added 1,355 BTC last week, bringing its total to 26,355 coins. Its shares rose 6.44% to $32.03.
Strategy continued buying back its perpetual preferred stock, STRC, repurchasing about 1.77 million shares for $174 million during the same week.
STRC rose 0.35% to $98.85 during Monday’s pre-market trading.
Strategy said it still had $875.1 million available under its preferred-stock repurchase program and $1 billion remaining under its MSTR share repurchase program.
Related: REX launches 2x leveraged ETF tied to Bitcoin treasury firm Strive
The company also reported no sales under its at-the-market offering programs between Sept. 14 and Sept. 20, meaning it did not raise funds through those programs during the period.
Strategy’s ”USD Cash“ balance fell nearly 20% to $1.05 billion from $1.30 billion a week earlier, when the company reported its previous cash balance.
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on cointelegraph.com
