Strategy Acquires $27.2M in Bitcoin Following Three-Week Pause

Strategy, formerly MicroStrategy, has resumed its Bitcoin acquisition efforts on Monday. After a historic market crash last week, the company is back in accumulation mode. On October 13, Strategy announced a 220 BTC for approximately $27.2 million, paying an average of $123,561 per bitcoin. 

Today’s acquisition marks the first for the company in October after a three-week stretch without any purchases. Strategy now owns a total of 640,250 $BTC acquired for approximately $47.38 billion, at an average price of ~$73,000 per coin. 

From October 6–12, the company sold a total of 170,663 STRF shares of its 10.00% Series A perpetual strife preferred stock, raising $17.1 million in notional value and netting $19.8 million in proceeds

In addition to STRF, the company also sold 16,873 STRK shares during the same period, generating another $1.7 million. STRK represents Strategy’s 8.00% Series A perpetual strike preferred stock, part of a broader $21 billion issuance program established earlier this year. No shares were sold under the STRC, STRD, or MSTR programs.

Altogether, Strategy raised $27.3 million across its ATM programs last week, generating the funding necessary for another massive Bitcoin purchase.

Just like the cryptocurrency market, U.S. stocks got hit hard last week. Strategy’s Class A common stock (MSTR) also took a tumble, currently trading at a 9.93% deficit over the last five days. 

However, the asset picked up some steam when the markets opened on Monday. $MSTR is trading at $315.47, up by 3.98% over the last day. The stock is currently outperforming Bitcoin, which is only up by around 0.6% in the alst 24 hours.