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06/10 19:10

Strategy bought Bitcoin for another $110 million

Strategy bought Bitcoin for another $110 million

Strategy acquired another 1,045 BTC for $110.2 million, increasing its total stake to 582,000 BTC worth over $62 billion.

The company's average token price is currently $70,086, and unrealized profits are approaching $21 billion.

Unlike previous purchases funded through common stock, the latest was funded through the sale of over $112 million in perpetual preferred shares – STRK and STRF. The move is part of Strategy’s expanded “42/42” capital plan, which aims to raise $84 billion to accumulate Bitcoin by 2027.

A new class of preferred shares, STRD, was also introduced, offering a 10% fixed dividend. Saylor hinted at the purchase on social media days earlier.

Strategy continues to lead corporate Bitcoin adoption, with 144 companies joining, including GameStop and Trump Media. Analysts predict that corporate BTC holdings could grow by $330 billion in five years, especially under a pro-crypto administration in the US.

Although it trades above its net worth, Strategy's low debt and lack of short-term liabilities offer financial flexibility. MSTR is up 25% year-to-date, closing last week at $374.47.

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