Strategy funds $1 billion Bitcoin purchase through perpetual preferred stock sales
MSTR shares declined 2.32% to $125.65 in pre-market trading after Strategy announced the acquisition of 13,927 BTC for approximately $1 billion. The company funded the purchase entirely through the sale of its perpetual preferred stock, Stretch (STRC). The Bitcoin were acquired at an average price of $71,902 per coin. This brings Strategy's total holdings to 780,897 BTC, representing a total investment of $59.02 billion at an average cost basis of $75,577 per Bitcoin.
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