Disclosure: The author of this story owns stock in Strategy (MSTR).
Michael Saylor, Executive Chairman of Strategy (MSTR), the largest publicly traded company holding Bitcoin X announced on Monday the purchase of 535 bitcoins for approximately $43 million at an average price of approximately $80,340 per coin.
These purchases bring the company’s total holdings to 818,869 BTC, acquired for $61.86 billion at an average cost of $75,540. With Bitcoin currently trading above $81,000, Strategy’s reserve is currently in profit.
Last week’s purchases were funded by $42.9 million from sales of the company’s common stock, according to a May 11 filing with the SEC.
The purchase follows Strategy’s first-quarter earnings call, during which the company said it was willing to sell bitcoin to repay convertible debt or fund dividend obligations, provided the move remains accretive on a bitcoin per share basis.
MSTR shares rose more than 1% in premarket trading.
CORRECT (May 11, 2:01 p.m. UTC): Corrects headline to say Strategy purchased 535 bitcoins; an earlier version of this story incorrectly reported it as a $535 million purchase.
