Strategy Acquires 7,633 Bitcoins

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Strategy, formerly known as MicroStrategy, has resumed its purchases of Bitcoin after pausing for a week. On Monday, co-founder Michael Saylor revealed that they had acquired 7,633 BTC, equivalent to $742 million, between February 3 and 9.

The average purchase price per coin was $97,255. This came after Saylor had hinted at the possibility of resuming Bitcoin purchases on Sunday.

According to a filing with the Securities and Exchange Commission, Strategy used the proceeds from the sale of its Class A common stock and its preferred stock offering to make these Bitcoin purchases.

Last week, the company sold 516,413 shares of its Class A common stock, generating $179 million in net proceeds. As of February 9, they still had approximately $4.17 billion worth of shares available for sale.

In addition, Strategy completed a public offering of 7,300,000 preferred shares priced at $80.00 per share on February 5, generating an estimated $563 million in net proceeds.