Michael Saylor and his struggling strategy (MSTR) sold more common stock last week, using the proceeds to add a relatively small amount of Bitcoin and $300 million in cash to its balance sheet.
The company sold about 2.7 million shares of MSTR stock, according to a filing Monday morning, raising $335.5 million. Of this sum, approximately $35 million was used to acquire 520 bitcoins at an average price of $67,068 each. The remaining $300 million was added to cash already on the balance sheet, bringing reserves to $1.4 billion.
The latest acquisition brings Strategy’s total bitcoin holdings to 847,363 BTC, acquired for a total cost of approximately $64.01 billion, or an average purchase price of $75.651 per coin.
