• The company acquired an additional 4,020 BTC for approximately $427.1 million, at an average price of $106,237 per coin
• Its Bitcoin holdings represent approximately 2.9% of the total circulating supply of the cryptocurrency
• The firm was hit with a class-action lawsuit, alleging that Strategy and its executives made misleading statements regarding the profitability of their Bitcoin investment strategy

MicroStrategy, now operating under the trade name Strategy, has further solidified its position as the largest corporate holder of Bitcoin. The company acquired an additional 4,020 BTC for approximately $427.1 million, at an average price of $106,237 per coin. With this acquisition, it now holds a total of 580,250 Bitcoins.

To finance this latest purchase, Strategy utilized proceeds from its at-the-market (ATM) equity offering. Namely, it sold: 

• 847,000 shares of MSTR common stock, raising $348.7 million
• 678,970 shares of STRK preferred stock, raising $67.9 million
• 104,423 shares of STRF preferred stock, raising $10.4 million

The organization’s aggressive accumulation strategy has resulted in its Bitcoin holdings representing approximately 2.9% of…

The post Saylor’s Strategy Just Spent $427 Million More on Bitcoin appeared first on Coin Edition.

• The company acquired an additional 4,020 BTC for approximately $427.1 million, at an average price of $106,237 per coin
• Its Bitcoin holdings represent approximately 2.9% of the total circulating supply of the cryptocurrency
• The firm was hit with a class-action lawsuit, alleging that Strategy and its executives made misleading statements regarding the profitability of their Bitcoin investment strategy

MicroStrategy, now operating under the trade name Strategy, has further solidified its position as the largest corporate holder of Bitcoin. The company acquired an additional 4,020 BTC for approximately $427.1 million, at an average price of $106,237 per coin. With this acquisition, it now holds a total of 580,250 Bitcoins.

To finance this latest purchase, Strategy utilized proceeds from its at-the-market (ATM) equity offering. Namely, it sold: 

• 847,000 shares of MSTR common stock, raising $348.7 million
• 678,970 shares of STRK preferred stock, raising $67.9 million
• 104,423 shares of STRF preferred stock, raising $10.4 million

The organization’s aggressive accumulation strategy has resulted in its Bitcoin holdings representing approximately 2.9% of…

The post Saylor’s Strategy Just Spent $427 Million More on Bitcoin appeared first on Coin Edition.