Strategy, a business intelligence firm formerly known as MicroStrategy, has expanded its Bitcoin portfolio by acquiring 7,633 BTC for $742.4 million, reinforcing its status as a key player in the cryptocurrency market.
Strategy's BTC Holdings Reaches 478,740 BTC
The latest acquisition increases Strategy's total Bitcoin holdings to 478,740 BTC, bought for a cumulative $31.1 billion. This equates to an average purchase price of $65,033 per Bitcoin, highlighting the firm's dedication to cost-effective cryptocurrency investment.
Strategy Gears Up for More Bitcoin
The firm plans to raise $563 million via a Perpetual Strike Preferred Stock (STRK) offering, issuing 7.3 million STRK shares at $80 each. All proceeds are intended for further Bitcoin purchases and other corporate purposes.
Strategy and Relentless Bitcoin Accumulation Spree
Over recent years, Strategy has leveraged a variety of financial vehicles, such as convertible notes and direct stock offerings, to invest in Bitcoin. Recently, the company announced the purchase of 10,107 BTC for $1.1 billion, consolidating its position as the largest corporate Bitcoin holder.
Strategy's unwavering commitment to Bitcoin investments continues to draw attention, underscoring its belief in cryptocurrency as a valuable asset and investment tool.
