Strategy Buys $143 Million Of Bitcoin

Strategy (NASDAQ: $MSTR) continues to purchase Bitcoin (CRYPTO: $BTC), buying $143 million U.S. worth of the cryptocurrency over the past week.

The serial crypto acquirer bought an additional 1,665 BTC for approximately $142.7 million U.S. at an average price of $85,681 U.S. per coin between Sept. 21 and Sept. 27.

Regulatory filings show that Strategy now owns a total of 847,666 Bitcoin worth a total of $70.6 billion U.S. The company's average price of its BTC is $75,437 U.S.

Strategy's holdings are equivalent to more than 4% of Bitcoin's 21 million circulating supply and imply around $6.6 billion U.S. of paper gains for the company.

The latest Bitcoin acquisitions were funded from at-the-market sales of Strategy's Class A common stock. Over the past week, Strategy sold 1,469,165 shares worth $246.2 million U.S.

Strategy also repurchased 1,534,530 shares of its preferred stock (NASDAQ: $STRC) for $151.7 million U.S.

As of Sept. 27, Strategy had $6.02 billion U.S. of cash and reserves on its balance sheet.

On Sept. 25, Strategy proposed moving the dividend on its preferred stock to daily payouts from twice per month currently.

The move to offer daily dividends on the preferred stock, which has a yield of 12%, is subject to a shareholder vote on Oct. 28 of this year.

Dividends on the preferred stock only moved from monthly to semi-monthly payments in June.

MSTR stock has declined 51% over the last 12 months to trade at $158.61 U.S. per share.