Strategy (MSTR) acquired 1,550 bitcoins for approximately $101 million, bringing its total holdings to 845,256 BTC, according to an announcement Monday from Executive Chairman Michael Saylor.
The purchase comes after bitcoin fell about 15% last week, briefly trading below $60,000 before rebounding above $62,000. The Bitcoin price decline followed, at least partially, after Saylor sold 32 Bitcoins on June 1.
The latest acquisition marks the first purchase since the company sold bitcoin and expands Strategy’s reserve while adding liquidity to its balance sheet.
The company revealed that it increased its US dollar reserves by $100 million, bringing its total cash reserves to $1 billion. To fund both initiatives, Strategy issued $181 million in common stock during the period.
The latest purchase was made at an average price of $65,332 per bitcoin, lower than Strategy’s overall average acquisition price of $75,680. Following the purchase, the company holds 845,256 BTC acquired for just under $64 billion.
Read more: Michael Saylor Reignites Bitcoin Buying Speculation as Scrutiny of Strategy Intensifies
