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Strategy makes modest Bitcoin purchase amid ongoing accumulation
- Strategy, the digital-asset treasury firm, purchased 245 Bitcoins for $26 million between June 16-22, one of its smallest weekly acquisitions since ramping up buying under Michael Saylor's leadership.
- The company has now gone four weeks without selling common stock to fund Bitcoin purchases, using proceeds from preferred shares instead.
- Strategy's stock has surged over 3,000% since 2020, outperforming Bitcoin's 1,000% rise over the same period.
- The latest acquisition saw Strategy acquiring 245 Bitcoins at an average price of $105,856 each.
- The company now holds approximately $60 billion worth of Bitcoin.
- The firm's executive Chairman, Michael Saylor, confirmed the purchase, revealing Strategy now holds 592,345 bitcoins acquired at an average price of $70,681 per bitcoin.
- Strategy has funded its Bitcoin purchases for the fourth consecutive week without selling common stock, using proceeds from the sale of preferred stock.
- Since starting its Bitcoin purchasing program in mid-2020, Strategy's shares have surged over 3,000%.
- Critics have raised concerns about the high premium at which Strategy's shares trade relative to the value of its Bitcoin holdings.
- Despite increasing volatility in cryptocurrency markets, Strategy continues its aggressive capital deployment into digital assets, under Saylor's leadership.
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