Strategy has made a significant investment in Bitcoin, acquiring an additional 13,390 BTC for approximately $1.34 billion.
This latest purchase brings its total Bitcoin holdings to nearly 569,000 BTC, valued at over $59 billion based on current market prices of around $104,000 per coin. The average cost of Strategy’s Bitcoin holdings has increased to $69,287 per BTC.
The funding for this substantial acquisition was achieved through two main avenues. Strategy raised $1.31 billion by selling shares via an at-the-market offering, which occurred between May 5 and May 11.
Additionally, the company issued 273,987 Series STRK preferred shares to support the investment. This strategic move follows closely after the company’s annual Strategy Conference, highlighting its ongoing commitment to a crypto-focused vision.
In a related development, David Bailey, a well-known figure in the cryptocurrency space and CEO of BTC Inc., is preparing to launch a new bitcoin investment firm called Nakamoto.
