Strategy Invests $2.54 Billion in 34,164 Bitcoins, Marking Third-Largest Acquisition on Record

Strategy, led by Michael Saylor, expanded its bitcoin treasury by 34,164 coins last week, paying an average of $74,395 per coin, which totals approximately $2.54 billion, as disclosed in a recent filing. This acquisition brings the company's total bitcoin holdings to 815,061, with a cumulative cost of around $61.56 billion and an average cost per coin of $75,527. Given the current bitcoin price of about $75,000, Strategy's holdings are at a break-even point. As the largest publicly traded bitcoin holder globally, Strategy initiated its bitcoin acquisition strategy in 2020 as a balance sheet asset. The funds for the recent purchases were raised through the sale of the company's preferred stock, STRC, generating $2.2 million, and common stock offerings, which yielded $366 million. Meanwhile, MSTR shares have declined by over 2.5% in pre-market trading.