Context
The acquisition was funded entirely through sales of the company's preferred stock, Stretch (STRC). S1S2
Key points
- Strategy's recent purchase was made at an average price of about $71,902 per Bitcoin. S2
- The total cost of the recent Bitcoin acquisition was approximately $1 billion. S1S2
- Following this acquisition, Strategy's total Bitcoin holdings reached 780,897 BTC. S1S2
- The company's total Bitcoin acquisitions have cost around $59.02 billion. S2
- The average cost basis for Strategy's Bitcoin holdings is approximately $75,577 per coin. S2
- The funding for the Bitcoin purchase came from sales of preferred stock, Stretch (STRC). S1S2
- Michael Saylor is known for his bullish stance on Bitcoin and cryptocurrency investments. S1
- This acquisition reflects ongoing institutional interest in Bitcoin as a treasury asset. S1
Why it matters
- The purchase underscores the growing trend of companies adding Bitcoin to their balance sheets as a hedge against inflation. S1
- It highlights the potential for significant capital raises through equity markets to fund cryptocurrency investments. S2
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