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Strategy (MSTR) Stock: Bitcoin Purchases Drop to $264M After Two $1B+ Weeks
Strategy pulled back on its bitcoin buying last week. The company purchased just $264.1 million worth of the cryptocurrency. tweet That’s a sharp decline from recent activity. The previous two weeks saw Strategy buy more than $1 billion in bitcoin each time. Executive Chairman Michael Saylor’s company added 2,932 bitcoin during the January 20-25 period. The average purchase price came in at $90,061 per coin. chart The company funded the acquisition primarily through stock sales. Strategy sold approximately 1.57 million shares of common stock, generating $257 million in net proceeds. The company also raised $7 ... (full story)
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