Strategy (MSTR) acquired 1,550 bitcoin for approximately $101 million, increasing its total holdings to 845,256 BTC, according to a Monday announcement from chairman Michael Saylor.
The purchase comes after bitcoin fell about 15% last week, briefly trading below $60,000 before rising above $62,000. The drop in bitcoin price followed, at least in part, after Saylor sold 32 bitcoin on June 1.
The latest acquisition marks the first purchase since the company’s bitcoin sale and expands Strategy’s reserve while increasing balance sheet liquidity.
The company revealed that it increased its US dollar reserves by $100 million, bringing total cash reserves to $1 billion. To fund both initiatives, Strategy issued $181 million of common stock during the period.
The most recent purchase was made at an average price of $65,332 per share. bitcoin, below Strategy’s total average acquisition price of $75,680. After the purchase, the company holds 845,256 BTC acquired for almost 64 billion dollars.
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