Strategy Adds Another 1,045 Bitcoin To Treasury With $110M Buy

Strategy (MSTR) shares rose nearly 3% on Monday morning after the Michael Saylor-led firm disclosed that it had purchased 1,045 Bitcoin (BTC) for $110.2 million between June 2 and June 8.

Bitcoin’s price was also trending higher on Monday, rising by around 2% in the last 24 hours to trade at more than $107,800, even as the broader cryptocurrency market value slipped by 0.6% in the same period.

The latest purchase brings Strategy’s total holdings to 582,000 BTC, purchased for approximately $40.8 billion at an average cost of $70,086 per coin.

According to a filing, Strategy sold 626,639 STRK shares – its 8.00% Series A perpetual strike preferred stock – for a face value of $62.7 million, yielding net proceeds of $66.4 million. 

An additional 432,679 STRF shares – its 10.00% Series A perpetual strike preferred stock – were sold for a face value of $43.3 million, generating $45.8 million in net proceeds. 

No shares were sold under the company’s common stock ATM program during the same period.

The funds were used to acquire 1,045 Bitcoin at an average price of $105,426 per coin, inclusive of fees and expenses. 

The STRK and STRF offerings were established in March and May of this year, respectively, with combined program sizes exceeding $23 billion. Strategy still has over $22.6 billion available for issuance across the three ATMs.

Strategy’s stock has gained nearly 30% this year, in comparison to Bitcoin’s gains of 15% over the same period. 

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