Michael Saylor's Strategy buys $143M worth of bitcoin

00:00 Speaker A

We're back, baby. Michael Saylor is once again Mega Made sucking up all of the Bitcoins this week.

00:06 Speaker A

Sailor and Strategy buy 1665 Bitcoin for $143 million, taking their total holdings to 847,666 Bitcoin.

00:15 Speaker A

Now, as is always the case with any story about strategy, you have to unpack how they use their complicated machine to buy Bitcoin because buying one thing generally means selling another thing or going into the cash reserve or dipping behind the couch cushions to find some nickels to buy some more Bitcoin.

00:35 Speaker A

So, what they did this time was they used a tiny little bit of their second cash reserve, but largely they sold 1.47 million MSTR shares to raise 246.2 million.

00:52 Speaker A

Now, as I said, that money was divided. $142.7 million was used to purchase Bitcoin again, about 1,600 Bitcoin. I think now they've probably bought back about all that they sold

01:05 Speaker A

at much lower prices. And they used 103.5 million repurchasing STRC preferred stock. So they used 48.1 million of their flexible USD cash pile. That's their second cash reserve to bring the total STRC repurchase to 151.7 million. So 103.5 million was with the MSTR sales and 48.1 million to a total of 151.7 million.