Strategy Buys Another $370M in Bitcoin, Holdings Reach 845,050 BTC
OdailyOdaily News: Business intelligence software company Strategy has purchased 4,603 Bitcoin for $370 million, at an average price of $80,318 per coin, bringing its total holdings to 845,050 BTC. The company's cumulative acquisition cost is $63.3 billion, with an average price of $75,413 per coin.
The funds for this purchase came from the net proceeds of a $602 million MSTR common stock offering, of which $30 million was used to increase its dollar cash reserves and $151.8 million was used to repurchase STRC perpetual preferred stock. This is Strategy's first Bitcoin purchase since mid-June.
Michael Saylor, co-founder and executive chairman of Strategy, posted "We're back" on X on Sunday, signaling the company's resumption of Bitcoin accumulation. On June 29, the company disclosed a capital framework that allows for funding dividends through Bitcoin sales and raised the annual dividend rate on STRC to 12%. (Cointelegraph)
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