The strategy sold 1.47 million MSTR shares for $246.2 million, using the proceeds to purchase bitcoins and repurchase STRC preferred stock.
Michael Saylor’s strategy bought 1,665 bitcoins for $142.7 million last week, raising its holdings to 847,666 BTC as the company sold common shares to pay for the purchase.
The company bought an average of $85,681 worth of bitcoins between Monday and Sunday, Strategy said said In a filing with the US Securities and Exchange Commission on 28 September 8. The strategy spent $63.95 billion at an average price of $75,437 per bitcoin, including fees and expenses.
The strategy financed the purchase with proceeds from the sale of MSTR stock. It sold 1.47 million shares for net proceeds of $246.2 million, allocated $142.7 million to bitcoin and repurchased $103.5 million of its STRC preferred stock.
Read more
