Strategy, Bitmine Accelerate Crypto Acquisitions Amid Market Volatility
Strategy (Masdaq: MSTR) spent $963 million on 10,624 bitcoin last week, marking its largest purchase in over 100 days, the company disclosed in a press release Monday. The acquisition brought Strategy’s total holdings to 660,624 BTC, worth around $60 billion at current prices.
The Virginia-based firm funded the purchase largely through issuing common stock, along with $44 million in STRD preferred shares featuring a 10% annual non-cumulative cash dividend. The size of Strategy’s latest purchase equals the entirety of its bitcoin-buying activity since mid-September, when bitcoin traded around $115,000.
Strategy shares were little changed at $183.69 at Monday’s close. The stock has declined by half over the past six months, though…
