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

Strategy, led by Michael Saylor, expanded its bitcoin reserves by 34,164 last week, with an average purchase price of approximately $74,395 per coin, totaling around $2.54 billion, as disclosed in a recent filing. This acquisition 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 around $75,000, Strategy's holdings are currently at a break-even point. As the largest publicly traded bitcoin holder globally, the company initiated its bitcoin acquisition strategy in 2020 as a balance sheet asset. The recent purchases were made possible by $2.2 million raised from the sale of its preferred stock, STRC, and $366 million from common stock sales. Meanwhile, MSTR shares have declined by over 2.5% in pre-market trading.