A Monday SEC filingStrategy bought the bitcoins at an average of $95,167 each between April 28th and May 4th. With this acquisition, the total number of BTC held by the company is now 555,450, purchased for $38.08 Billion, at an average cost of $68,550 each.
A combination of preferred and common stocks was sold to raise $128.5 Million. Strategy’s STRK sold $51.8million in preferred shares and $51.2million through the ATM common stock program. This transaction is a significant exhaustion of Strategy’s $21 billion ATM offer launched in the past year.
Last week Strategy Announced plans to expand the debt purchasing program and introduce new machines worth $21 billion. These expanded programs show the company’s intention to keep up its strategy of bitcoin accumulation.
Strategy is the biggest corporate bitcoin holder, representing approximately 2.64 percent of Bitcoin’s total supply. The company’s Bitcoin stack, valued at $52 billion at current prices of $94,000 is worth over $50 billion.
It comes at a time of high institutional demand for Bitcoins through regulated entities. BlackRock’s iShares Bitcoin Trust IBIT has seen massive flows in the past 2 weeks.
Strategy Shares were down by 2.7% during Monday morning’s trading, after having gained over 3% on Thursday. Bitcoin is currently trading at $94,497 – down by 1.14% in the last 24 hours.
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Source: bitcoinmagazine.com
