Strategy Inc. leverages preferred stock to fund $1 billion Bitcoin buy as treasury remains underwater
Strategy Inc. is currently holding a paper loss of roughly $900 million on its total Bitcoin holdings. This loss stems from the company's average cost basis of $75,577 per coin across 780,897 BTC. Bitcoin is currently trading around $74,500, leaving the treasury underwater relative to its average cost basis. The company recently purchased 13,927 Bitcoin for approximately $1 billion, funded entirely through the sale of preferred stock known as Stretch (STRC). The total cumulative cost for the company's holdings is $59.02 billion.
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