Breaking: Strategy Buys $1.3 Billion Worth of Bitcoin (BTC)

Strategy has extended its relentless Bitcoin (BTC) buying spree by purchasing an additional $1.28 billion worth of Bitcoin.

This comes after Michael Saylor, the company’s executive chairman, teased the purchase on Thursday.

Approaching 740,000 BTC 

According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the corporate intelligence and software firm acquired 17,994 Bitcoin (BTC) between March 2 and March 8. Its average purchasing price was $70,946 per BTC.

With this latest purchase, Strategy’s total aggregate Bitcoin holdings have reached a staggering 738,731 BTC. 

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The company has spent a total of $56.04 billion to build this reserve. Its average purchase price currently stands at $75,862 per coin.

The latest purchase has been financed with the help of the company’ss at-the-market (ATM) offering program. 

During the same March 2 to March 8 window, the company raised approximately $1.276 billion in net proceeds through the sale of both common and preferred stock:

The company still has over $6.7 billion available for issuance under its MSTR common stock program, and tens of billions available across its various preferred stock tiers (including STRF, STRC, STRK, and STRD).