Strategy, formerly MicroStrategy, resumed its Bitcoin acquisition efforts on Monday. After a historic market crash last week, the company is back in accumulation mode. On October 13, Strategy announced a 220 BTC for approximately $27.2 million, which would pay an average of $123,561 per bitcoin.
Today’s acquisition is the company’s first in October, following a three-week period without any purchases. Strategy now owns a total of 640,250 $BTC, acquired for approximately $47.38 billion, at an average price of ~$73,000 per coin.
From October 6 to 12, the company sold a total of 170,663 STRF shares of its 10.00% Series A preferred stock, raising $17.1 million in notional value and netting $19.8 million in proceeds.
In addition to STRF, the company also sold 16,873 STRK shares during the same period, raising an additional $1.7 million. STRK represents Strategy’s 8.00% Series A perpetual strike preferred stock, part of a broader $21 billion issuance program launched earlier this year. No shares have been sold under the STRC, STRD or MSTR programs.
In total, Strategy raised $27.3 million through its ATM programs last week, generating the funding needed for another massive Bitcoin purchase.
Like the cryptocurrency market, US stocks were hit hard last week. Strategy’s Class A common stock (MSTR) also declined, currently trading at a deficit of 9.93% over the past five days.
However, assets regained some momentum as markets opened on Monday. $MSTR is trading at $315.47, up 3.98% over the past day. The stock is currently outperforming Bitcoin, which is up only about 0.6% in the past 24 hours.
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