Key takeaways:
- Strategy buys bitcoins.
- The company acquired 1,550 BTC for USD 101.3 million.
- This happens after the company has sold some of its resources.
Strategy resumed its bitcoin purchases, acquiring 1,550 BTC for $101.3 million, bringing its total holdings to 845,256 BTC. This all comes after the controversial sale that took place last week.
Shopping strategy
Strategy acquired 1,550 bitcoins for approximately $101.3 million last week, bringing its total holdings to 845,256 BTC. The company paid an average of $65,332 per bitcoin for the current purchase, according to Monday’s 8-K filing with the U.S. Securities and Exchange Commission (SEC).
If we look at the matter more broadly, we notice that the company purchased one bitcoin at an average price of USD 75,680, which gives the total cost of the entire investment at approximately USD 63.97 billion.
The latest purchase was financed with proceeds from the sale of shares of Class A common stock under the company’s at-risk offering program. Strategy generated $181 million in net proceeds from stock sales in the first week of June, according to the filing.
The company’s share price increased by approximately 6.6% in pre-market trading – to USD 127.20. This happened after the above information was disclosed.
On Monday, Strategy said shareholders approved changing the STRC preferred stock dividend schedule to semi-monthly, 15th of the month and month-end. The new schedule will come into force on July 15, and for registered shareholders on June 30.
Saylor wasn’t lying
This purchase marks the resumption of the company’s BTC accumulation strategy following the controversial sale of 32 BTC that occurred last Monday. It was the first such transaction since 2022.
Remember that you can trade bitcoin and other cryptocurrencies on the Kanga exchange.
Will the bitcoin price drop?
It all comes as the price of bitcoin fell 21%, testing the $61,000 level for the first time in four months and sparking sharp criticism from traders who are warning of a potential crash if Saylor’s company is ever forced to sell its crypto reserves.
CryptoQuant CEO Ki Young Ju, however, rejected Saylor’s criticism on Friday after CNBC host Jim Cramer accused him of “murdering bitcoin.” Ju argued that bitcoin would have fallen to $22,000 if not for Strategy’s purchases.
Currently, 1 BTC costs USD 63,200.
