In the midst of significant volatility in prices, strategy (Mstr) continued to build its Bitcoin Stack last week that bought 3,081 coins for $ 356.9 million, or an average price of $ 115,829 each.
The company’s holdings are now 632,457 BTC acquired for $ 46.5 billion or an average price of $ 73,527 each.
Bitcoin’s jump to $ 111,000 over the past 24 hours makes these holdings worth approx. 70.2 billion dollars in the US Monday morning hours.
Last week’s Bitcoin buyer was mostly financed through the sale of joint stock, from which the company raised $ 300.9 million. Modest sale of three of the four MSTR -Public Stock Problems accounted for the rest of the financing.
Michael Saylor and strategy last week drew Ire at least some of their fans and revised a promise to never sell a common share as the price was under 2.5x mnav.
Of course, Mstr has been under considerable pressure in the last few weeks, and MNAV – a measure of multiple of the company’s valuation versus its Bitcoin stocks – has been well under 2x for some time.
Mstr is lower by more than 4% premarket along with the steep slide in Bitcoin.
