Strategy led by Michael Saylor bought 950 bitcoins last week worth about 75.7 million dollars. This latest purchase pushed the company’s total bitcoin holdings back up to 846,000 BTC. That equals roughly 4 percent of all bitcoin that will ever exist.
The company also spent 174 million dollars to buy back its preferred shares. It paid with cash on hand and did not issue any new stock. This move shows that Strategy remains confident in its bitcoin position and its capital structure. The company still has 6.09 billion dollars in USD assets available so it has plenty of room for more buybacks. Its total bitcoin cost basis now stands at 63.8 billion dollars which shows how big its long term bet on the crypto really is.
News about Strategy’s bitcoin purchase and share buyback gives useful context for the crypto market.
Notable movers include AVAX at around 11.46 dollars up 15.71 percent. GRT also climbed 14.06 percent to around 0.023 dollars. XLM rose 12.24 percent to around 0.21 dollars.
