MSTR buys 1,550 BTC, boosts cash reserves to $1 billion
Summary
Strategy bought 1,550 bitcoin for about $101 million, lifting its total holdings to 845,256 BTC. The purchase came after bitcoin dropped about 15% last week, briefly slipping below $60,000 before rebounding. It was the company’s first buy since Michael Saylor sold 32 bitcoin on June 1. Strategy also increased U.S. dollar reserves by $100 million to $1 billion, funding both moves with $181 million in common stock issuance. The new bitcoins were bought at an average price of $65,332, below the company’s overall average cost of $75,680.
