Strategy Buys Additional $43.4 Million Worth of Bitcoin
According to documents provided by the company, Strategy now holds 640,808 BTC valued at approximately $74 billion, purchased at an average price of $74,032 per coin.
The latest Bitcoin acquisition was made using proceeds from the sale of the company’s perpetual preferred shares — Strike, Strife, and Stride — on the stock market. The company did not issue new common MSTR shares this time.
The perpetual preferred share issuance program is part of Strategy’s “42/42” plan, which aims to raise $84 billion through equity and convertible bond offerings to purchase Bitcoin by 2027.
Chairman and co-founder Michael Saylor stated that the company’s capital structure can withstand a 90% Bitcoin price drop thanks to its mix of equity, convertible bonds, and preferred market instruments.
In a recent Market Disrupters podcast, Saylor also mentioned that Strategy can convert $100 million into Bitcoin within an hour.
See also: "Western Union Launches Pilot Project for Stablecoin Transfers"
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