Strategy acquired 250 bitcoins between October 5 and 11 at an average price of $86,194, bringing its total reserve to 848,250 BTC, representing over 4% of the maximum bitcoin supply. During the same period, the company repurchased 1,932,145 STRC preferred shares for approximately $192.4 million, an amount nine times higher than the spending on bitcoins. At the current price of $83,000, Strategy’s reserve is worth nearly $70.4 billion with an average cost basis of $75,444 per bitcoin. MSTR shares dropped 53% year-over-year, closing at $154.34 on Friday, which limits the company’s ability to issue new shares to buy bitcoins. Strategy remains the world’s largest corporate bitcoin holder, far ahead of Metaplanet with 44,000 BTC.
Source: Read the original article
