Strategy (MSTR) Spends $100 Million on 1,587 Bitcoin, Lifts Total Holdings to 846,842 BTC
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Strategy added 1,587 BTC for $100 million last week, lifting its holdings to 846,842 BTC while rebuilding its cash reserve to $1.1 billion.
Key facts
Strategy added 1,587 BTC for $100 million last week, lifting its holdings to 846,842 BTC while rebuilding its cash reserve to $1.1 billion
Strategy also recently expanded its ATM programs to include up to an additional $21 billion of MSTR shares, alongside $21 billion of STRC preferred stock and $2.1 billion of STRK preferred stock
Strategy’s 846,842 BTC was acquired at an average cost of $75,656 per coin, for a total outlay of roughly $64.1 billion including fees and expenses
Technical notes from Bitcoin Magazine Pro show that bitcoin bounced off the 0.618 Fibonacci retracement level near $60,000, but the RSI remains weak at 37, and a sustained weekly close above $66,000
Summary
Strategy (Nasdaq: MSTR) has purchased 1,587 bitcoin for approximately $100 million, bringing the company’s total bitcoin holdings to 846,842 BTC, according to an 8-K filing with the Securities and Exchange Commission on Monday morning. The purchase, executed between June 8 and June 14, was made at an average price of $63,024 per bitcoin and funded through at-the-market sales of the company’s Class A common stock. Strategy’s 846,842 BTC was acquired at an average cost of $75,656 per coin, for a total outlay of roughly $64.1 billion including fees and expenses. At current prices near $66,000, the company carries approximately $8 billion in paper losses.