Fresh weekly Bitcoin purchases are no longer news for Michael Saylor’s (MSTR) strategy, but large purchases are mostly on the table for some time.
The company last week, though, acquired an additional 8,178 BTC for $835.6 million, or an average price of $102,171 each.
This massive purchase was largely financed by the sale of the company’s latest preferred offering, Stre, or Steam, which brought the company’s high yield to European investors, raising nearly $715 million earlier this month. The company also raised $131.4 million through STRC, or Stretch, preferred series, every single Monday morning filing.
Total holdings today are 649,870 BTC for $48.37 billion, or $74,433 each.
The Strategy’s Bitcoin purchases of late have mostly been incremental because the sharp decline in the company’s stock price — down nearly 56% over the past four months — has pretty much ruled out any big common share offerings.
Trading at $199 Early Monday, the value of MSTR Enterprise sits just above the value of Bitcoin on its balance sheet, making it a common stock issue with existing holders.
Bitcoin was trading at $94,500 Monday, down slightly from Friday’s levels.
