Strategy Buys $110 Million in Bitcoin as BTC Holdings Near $63 Billion
Strategy acquired 1,045 Bitcoin for approximately $110 million, increasing its total holdings to about 582,000 Bitcoin valued at $62.7 billion. The purchase occurred between June 2 and 8 and is noted as the company's fourth-smallest acquisition this year. Strategy has consistently purchased Bitcoin for nine weeks, totaling around $5.1 billion since mid-April. The company raised $112 million through preferred stock issuance, with $66.4 million from Perpetual Strife Preferred Stock and $45.8 million from Perpetual Strike Preferred Stock. Strategy's stock rose 2% to $382 per share during pre-market trading, despite a 2.9% decline over the past month. The firm faces business challenges amid increasing competition and market volatility, with Bitcoin's value fluctuating between $101,000 and $108,000 recently. The number of entities holding Bitcoin treasuries has increased by roughly 10% in the past month.
