From Cointelegraph · By Helen Partz
Michael Saylor’s Strategy bought 1,665 Bitcoin for $142.7 million last week, lifting its holdings to 847,666 BTC as the company sold common shares to fund the purchase.
The company bought the Bitcoin at an average price of $85,681 per coin between Monday and Sunday, Strategy said in a Sept. 28 8-K filing with the US Securities and Exchange Commission. Strategy has spent $63.95 billion on its holdings at an average price of $75,437 per Bitcoin, including fees and expenses.
Strategy funded the purchase with proceeds from MSTR stock sales. It sold 1.47 million shares for $246.2 million in net proceeds, allocating $142.7 million to Bitcoin and $103.5 million to repurchases of its STRC preferred stock.
Source: SEC
Strategy repurchased 1.53 million STRC shares for $151.7 million, with an additional $48.1 million coming from its US dollar cash holdings. The company bought 950 BTC for $75.7 million the previous week after a two-week pause.
Strategy’s “USD Cash” balance fell to $1 billion from $1.05 billion week over week after it used $48.1 million for STRC repurchases. Its separate US dollar reserve, maintained to cover preferred stock dividends and debt interest, declined to $5.02 billion from $5.04 billion after $22.1 million in dividend payments.
Related: Strategy seeks shareholder approval for daily preferred stock dividends