Strategy Buys 21,021 More Bitcoin In $2.46 Billion Bet On BTC

Michael Saylor-backed Strategy (MSTR) announced on Monday its newest Bitcoin (BTC) purchase worth $2.46 billion. 

The company bought 21,021 Bitcoin between July 28 and August 23 at an average price of $117,256. Its total Bitcoin holdings now come up to 628,791 BTC. At Bitcoin’s current price of $114,491, Strategy’s holdings are worth over $72 billion.

MSTR stock rose nearly 2% in pre-market trade; however, retail sentiment on Stocktwits around the shares remained within the ‘bearish’ zone as compared to a day ago.

In its filing with the Securities and Exchange Commission (SEC), the company also disclosed it did not sell any securities during the period across its five at-the-market (ATM) offering programs. It maintains $47.76 billion in total capacity available for issuance and sale across these programs. This includes $17.04 billion for common stock, $20.45 billion for STRK preferred shares, $1.88 billion for STRF preferred shares, $4.18 billion for STRD preferred shares, and $4.20 billion for STRC preferred shares.

The total sizes of these ATM programs–all established since March this year–range from $2.1 billion to $21 billion. 

An increasing number of companies are looking to the cryptocurrency markets to diversify their treasury holdings. In addition to Strategy, GameSquare Holdings (GAME) also announced adding more crypto to its coffers on Monday, but instead of Bitcoin, this company is focused on accumulating Ethereum (ETH). 

GameSquare said that it had purchased 2,717 Ethereum tokens for $10 million, bringing its total holdings to 15,630.07 ETH. The company also announced a new stock repurchase program to acquire up to $5 million worth of its common stock. 

"With over $60 million now deployed in ETH and NFT purchases, we're focused on turning Ethereum from a passive asset into a source of recurring revenue,” said GameSquare CEO Justin Kenna. 

GameSquare’s stock jumped more than 6% in pre-market trade on Monday. On Stocktwits, retail sentiment around the company edged lower within ‘bearish’ territory over the past day.

Read also: Tesla Approves 96M Shares Of Restricted Stock To CEO Elon Musk

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