Strategy invests $370 million to increase holdings of 4,603 bitcoins, marking the first time since June

Michael Saylor's Strategy purchased 4,603 bitcoins for $370 million, with an average purchase price of approximately $80,318. This marks the company's first enterprise-level bitcoin acquisition since June. According to an 8-K filing submitted to the U.S. Securities and Exchange Commission on Monday, Strategy currently holds a total of 845,050 bitcoins, with a total investment of approximately $6.33 billion and an average cost of about $75,413.The funds for this acquisition came from the net proceeds of $602 million from the sale of MSTR common stock. At the same time, the company used $30 million of this to increase its cash reserves in dollars and spent $151.8 million to repurchase its perpetual preferred stock STRC. In pre-market trading on Monday, STRC rose 0.44% to $97.33, a discount of 2.67% from its par value of $100.STRC is one of the main tools for Strategy to accumulate financing for bitcoin. The trading price below par limits its ability to raise funds through STRC and may also force the company to further increase the nominal dividend rate to attract buyers and support the stock price. In a previous 8-K filing on June 29, Strategy announced a capital framework allowing the sale of bitcoin to fund dividends and raised the annual dividend rate on STRC preferred stock to 12%.