Strategy has officially announced the purchase of an additional 2,932 Bitcoin worth about $264.1 million.
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the acquisition was made at an average price of $90,061 per bitcoin, and was executed between January 20 and January 25.
Strategy now holds a total of 712,647 BTC, valued at roughly $62.5 billion based on the current market prices. The company’s cumulative cost for these holdings, including the fees and expenses, is worth about $54.2 billion, according to Michael Saylor, Strategy’s co-founder.
The latest purchase, as per the official document shared, was funded through the sales of the company’s Class A common stock (MSTR) and the perpetual preferred stock (STRC).
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Typically, Strategy uses different types of preferred stock to raise money for bitcoin purchases. STRK shares are convertible and offer equity upside, while STRF shares are conservative with cumulative dividends.
For this purchase, it was recorded that the company sold about 1,569,770 MSTR shares for roughly $257 million last week, leaving another $8.17 billion worth of shares still available for issuance under the program. Recently, the company also sold another STRC shares for about $7 million, with $3.62 billion worth of STRC shares remaining available.
So far, the firm’s bitcoin stash represents approximately 3.4% of the total Bitcoin 21 million supply, implying paper gains of about $8.3 billion based on the current valuations.
Since the year started, Strategy has been accumulating Bitcoin, with this recent buy being the fourth time this month. Despite this accumulation, Bitcoin price has struggled to maintain its momentum as the price has fallen over 6% from its recent highs and is currently trading at $88,362 as at the time of writing.
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