Strategy (NASDAQ:MSTR) purchased 13,927 Bitcoin (CRYPTO: BTC) for approximately $1 billion at an average price of $71,902 per coin between April 6 and April 12, entirely funded by sales of its Stretch (NASDAQ:STRC) perpetual preferred stock.
The Bitcoin Purchase
The purchase brings Strategy’s total holdings to 780,897 BTC, acquired for approximately $59.02 billion at an average cost basis of $75,577.
This represents more than 3.7% of Bitcoin’s total 21 million supply and implies around $3.6 billion of paper losses at current prices.
The company funded last week’s acquisitions entirely by raising $1 billion through at-the-market sales of STRC.
Strategy sold 10,028,363 STRC shares for approximately $1 billion. As of April 12, $21.6 billion worth of STRC shares remain available for issuance and sale under that program.
The company sold no shares of Class A common stock MSTR last week, leaving $27.1 billion available under that …
