- Strategy bought 950 BTC for $75.7 million, an average price of $79,670 per coin, funded from cash reserves. It was the company's first bitcoin purchase since late August.
- Strategy also repurchased $174 million of its STRC perpetual preferred shares, part of an effort to lift the securities back above par so they can again finance bitcoin purchases. The preferred traded just below $99.
- Strategy now holds 846,000 BTC acquired at an average price of $74,417 per coin.
- Bitcoin traded above $85,000, up 5% over 24 hours and its highest level since January. MSTR shares rose 8% to $166.08 in premarket trading.
Quotes
“Strategy purchased 950 BTC for $75.7 million U.S., buying the largest cryptocurrency at an average price of $79,670 U.S. per coin.”
“Michael Saylor’s Strategy Inc. purchased Bitcoin for the first time in three weeks, acquiring $75.7 million of the original cryptocurrency after seeking to rebuild investor confidence by reshaping its balance sheet and building out reserves.”
“MSTR stock was up 8% at $166.08 U.S. a share in premarket trading, rallying alongside crypto prices.”