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Strategy resumes Bitcoin buying with $43M purchase
Strategy resumes Bitcoin buying with $43M purchase

Strategy resumes Bitcoin buying with $43M purchase

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Strategy resumed its bitcoin accumulation strategy last week after purchasing 535 Bitcoin for approximately $43 million between May 4 and May 10.

The company acquired the bitcoin at an average purchase price of $80,340 per coin, according to a filing submitted Monday to the US Securities and Exchange Commission.

The latest acquisition increased Strategy’s total holdings to 818,869 BTC, purchased for roughly $61.86 billion at an average acquisition price of $75,540 including fees and expenses.

The purchase marked Strategy’s first bitcoin acquisition since April 27, when the company bought 3,273 BTC for approximately $255 million before temporarily pausing purchases.

The renewed buying activity followed comments from Strategy chairman Michael Saylor during the company’s first-quarter earnings call suggesting the firm could “probably sell some Bitcoin” in the future to help fund dividend payments.

The company funded most of the latest acquisition through sales of Class A common stock, with approximately $42.9 million raised through MSTR share issuance and an additional $100,000 generated through sales of Stretch preferred stock.

Despite investor concerns around potential future bitcoin sales, Strategy shares rose more than 4% in premarket trading following the announcement, with the stock now up roughly 23% year-to-date even as bitcoin itself has declined over the same period.

At the time of reporting, Bitcoin price was $81,242.15.

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