Company Invests $2.54 Billion in 34,164 Bitcoins, Marking Third-Largest Acquisition

Strategy, led by Michael Saylor, has expanded its bitcoin reserves by 34,164, with an average purchase price of approximately $74,395 per coin, totaling around $2.54 billion, as disclosed in a recent filing. This brings the company's total bitcoin holdings to 815,061, valued at roughly $61.56 billion with an average cost basis of $75,527. Given the current bitcoin price of about $75,000, the company's bitcoin holdings are currently at break-even. As the world's largest publicly traded bitcoin holder, Strategy initiated its bitcoin acquisition in 2020 as a balance sheet asset. The funding for the recent purchases came from $2.2 million in sales of the company's preferred stock, STRC, and $366 million from common stock sales. The company's shares, MSTR, have declined by over 2.5% in pre-market trading.