Strategy Corp, the corporate Bitcoin holder led by Michael Saylor, purchased 4,603 Bitcoin for $370 million, its first acquisition in two months, according to an SEC filing on Monday.
The average purchase price was $80,318 per Bitcoin, bringing the company’s total holdings to 845,050 BTC, acquired for a combined $63.3 billion at an average price of $75,413. The transaction was funded using net proceeds from a $602 million common stock sale, with $30 million allocated to increasing the company’s USD cash reserve and $151.8 million used to repurchase preferred STRC shares.
Strategy’s shares, listed on Nasdaq under the ticker MSTR, rose less than 1% in pre-market trading on Monday after declining more than 7% on Friday. The company last acquired Bitcoin in mid-June, purchasing 1,587 BTC for approximately $100 million.
Co-founder and Executive Chairman Michael Saylor indicated a resumption of Bitcoin accumulation on Sunday via a widely viewed post on X, stating “We’re Back.” Saylor has previously used cryptic weekend messages ahead of major treasury announcements.
Strategy’s perpetual preferred stock, STRC, gained 0.44% in pre-market trading to $97.33, trading at a 2.67% discount to its $100 par value. The stock’s discount may constrain the company’s ability to raise additional funds through STRC sales, potentially prompting an increase in the nominal dividend rate to attract buyers and support the share price.
In a June 29 filing, Strategy outlined a capital framework allowing Bitcoin sales to fund dividends and raised the annual dividend rate on STRC preferred stock to 12%. The company also disclosed the sale of 32 Bitcoin in early June, marking its first reported Bitcoin sale since a 2022 tax-loss transaction.
