Business intelligence firm Strategy purchased 1,550 Bitcoin last week for approximately $101.3 million, resuming its accumulation strategy after a controversial sale. The acquisition brings its total holdings to 845,256 BTC, now worth roughly $53.8 billion. The company funded the purchase using proceeds from sales of Class A common stock, and its shares rose over 6% in pre-market trading following the disclosure.
Business intelligence firm Strategy purchased 1,550 Bitcoin for approximately $101.3 million last week, bringing its total holdings to 845,256 BTC. The company paid an average price of $65,332 per Bitcoin for the purchase, according to a Monday 8-K filing with the US Securities and Exchange Commission.
Strategy’s aggregate Bitcoin holdings were acquired at an average price of $75,680 per BTC, for a total cost of about $63.97 billion. At Bitcoin’s current price of about $63,600, its holdings are worth roughly $53.8 billion.
The latest acquisition was funded using proceeds from sales of Class A common stock through the company’s at-the-market offering program. According to the filing, Strategy generated $181 million in net proceeds from those stock sales during the first week of June.
The company’s shares rose 6.55% in pre-market trading to $126.90 following the disclosure, according to Yahoo Finance data at the time of writing. The purchase follows a Sunday X post by Strategy’s executive chairman, Michael Saylor, who said that it was “a good time to add more dots.”
This purchase marks a resumption of the company’s BTC accumulation strategy after its controversial sale of 32 BTC last Monday, which was its first since 2022. Bitcoin price fell 21% following that sale, briefly retesting $61,000 for the first time in four months.
CryptoQuant CEO Ki Young Ju argued that Bitcoin would have fallen to $22,000 if it weren’t for Strategy’s purchases. In a Monday report, analysts from Bernstein highlighted the company’s resilient, overcollateralized and liquid balance sheet, while reiterating an “Outperform” rating and a $450 price target on the stock.
