Strategy buys 10,645 Bitcoin for $980 million as firm stays in the Nasdaq 100

Key Takeaways

Strategy buys 10,645 Bitcoin for 0 million as firm stays in the Nasdaq 100

Strategy buys 10,645 Bitcoin for $980 million as firm stays in the Nasdaq 100

Key Takeaways


Strategy, the world’s largest corporate Bitcoin holder, announced Monday it spent roughly $980 million buying 10,645 Bitcoin last week, paying an average price of $92,098 per coin.

Its total Bitcoin holdings have now reached 671,268 coins, worth more than $60 billion at current market prices.

The company funded its latest Bitcoin purchase through its ATM program, primarily by selling MSTR common stock, with additional proceeds from sales of STRF, STRD, and STRK preferred shares, according to a new SEC filing.

Strategy is continuing its Bitcoin accumulation strategy, seemingly with greater intensity, despite rising concerns over the sustainability of its Bitcoin-focused business model. The company added over 10,600 BTC for the second week in a row.

CEO Phong Le noted earlier this month that successfully raising billions demonstrated the company’s financial stability amid liquidity concerns.

Strategy has maintained its place in the Nasdaq 100 following the exchange’s index review on Friday. All eyes are on MSCI, which is currently scrutinizing the company’s high Bitcoin exposure.

Analysts warn that removal from its benchmarks could trigger major outflows.

About Author

Please enter CoinGecko Free Api Key to get this plugin works.