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

Strategy, led by Michael Saylor, expanded its bitcoin reserve by 34,164 units last week, with an average cost of $74,395 per unit, totaling $2.54 billion, as disclosed in a recent filing. This acquisition brings the company's total bitcoin holdings to 815,061, valued at approximately $61.56 billion, with an average cost per unit of $75,527. Given the current bitcoin price of around $75,000, Strategy's holdings are 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 purchase was funded by $2.2 million from the sale of its preferred stock, Stretch, and $366 million from common stock sales. The company's shares have declined by over 2.5% in pre-market trading.