Strategy has announced a recent Bitcoin purchase that positions it among the leading corporate holders of the cryptocurrency.
Expansion of Strategy's Holdings
The recent acquisition by Strategy worth $739 million has brought its total Bitcoin holdings to 607,770 BTC, with an average value now exceeding $71,000 per coin.
Financing the Purchase
This buy was largely funded through the sale of 1.6 million MSTR shares, raising $736.4 million. Amid the recent crypto rally, the company's year-to-date return on its BTC portfolio stands at 20.8%.
Market Reaction and Company's Future
Following this announcement, MSTR stock rose over 2%, trading around $432. Strategy has now climbed into the top 10 U.S. corporate treasuries by size, surpassing chip giant NVIDIA.
Strategy's Bitcoin acquisition highlights the growing interest in holding cryptocurrencies in corporate treasuries, reflecting positive trends in the crypto market.
