Michael Saylor’s Strategy added to its Bitcoin reserves as BTC continues to trade under the average cost basis for the company of approximately $75,700.
Between June 8th and Sunday, Strategy purchased 1,587 Bitcoins (BTC) at a cost of $100 million. according The 8-K filed by the US Securities and Exchange Commission on Monday.
Source: SEC
The average Bitcoin price was $63,024; the average overall cost of $75,656.
Strategy holds 846.842 BTC now, at an estimated cost of $64.07 Billion. These holdings, valued at $56.1 billion in the current bitcoin price of $66,216, are currently worth approximately $60,216. according to CoinGecko data.
MSTR behind the purchase
Like the previous 1,550 BTC acquisition announced last MondayThe latest acquisition was funded by the sale of Class A Common Stock (MSTR).
According to the document, MSTR raised $209 Million by selling 1,73 million shares of MSTR during that period. Preferred shares programs including STRC and STRF as well STRK and STRD did not show any activity this week.
Related: Bitcoin sales are necessary for Strategy’s digital credit business, Saylor says
STRC.live is a stock tracker for Strategy’s preferred programs. As of the 12th of June, STRC had traded under its $100 par price for a 4th consecutive week. Stocks remained between $96 and $100, the longest period below par value since its launch.
STRC ended Friday at $94.80, a decrease of around 1%. according TradingView is a great source of data.
Source: STRC.live
In a Sunday post, Strategy’s executive chairman Saylor alluded to the latest acquisition. writing, “Still adding dots,” Investors have begun to use this phrase in connection with upcoming Bitcoin purchases by the company.
Source: Michael Saylor
Two weeks ago, I bought the latest item. Strategy disclosed the sale of 32 BTC on June 1The company’s first Bitcoin sale reported for years. The sale was a fraction of what the company held, but it still represented a significant amount. ignited debate in the communitySome observers questioned if the company had abandoned its traditional buy-and-hold strategy.
Saylor recently defended the saleCointelegraph reported that Bitcoin Treasury Companies must have the option to maintain their holdings and support dividend-paying assets.
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Source: cointelegraph.com
