BITCOIN | Strategy Now Holds Almost 800,000 Bitcoins

Strategy Inc., the world’s largest public holder of Bitcoin, has said it bought 13,927 bitcoin for about $1 billion, boosting its total holdings to 780,897 BTC, as the company continues to double down on its cryptocurrency investment strategy.

The purchase was made at an average price of roughly $71,900 per token, according to a company filing, bringing the firm’s total bitcoin spend to about $59 billion at an average cost of $75,577 per coin.

The acquisition was funded through proceeds from the company’s at-the-market stock offering program, Strategy’s perpetual preferred equity, Stretch (STRC). The filing showed the company sold 10 million STRC shares last week, generating around $1 billion in notional value and net proceeds. No shares were sold for STRF, STRK, STRD or MSTR stock during the period.

Strategy, the world’s largest corporate holder of bitcoin, has continued to accumulate the cryptocurrency despite market volatility, with its year-to-date bitcoin yield reaching about 5.6%.

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