Strategy (MSTR), the largest publicly traded Bitcoin holder, has been aggressively buying for the second week in a row on Bitcoin’s decline. .
The company acquired 10,645 bitcoins last week for $980.3 million, an average price of $92,098 each. Total holdings amounted to 671,268 BTC acquired for $50.33 billion, an average of $74,972 per BTC.
The acquisition was financed primarily through the sale of $888.2 million in common stock, according to a filing Monday morning, with most of the remaining funds coming from the sale of the company’s STRD series of preferred stock.
Last week’s purchase is notable because it is the second consecutive weekly acquisition worth around $1 billion worth of bitcoin. Although Strategy has been a regular buyer of BTC in recent months, most weekly purchases have been relatively small due to constraints on the company’s ability to raise additional funds.
Over the past two weeks at least, Saylor and his team have put aside concerns about shareholder dilution and been aggressive in selling common stock to fund the purchases.
MSTR shares are flat in pre-market trading, with bitcoin retreating over the weekend to its current level of $89,600.
Separately, it was announced that Strategy would remain a component of the Nasdaq 100. The company also sent a letter to MSCI last week pushing back on MSCI’s proposed exclusion of digital assets.
