Michael Saylor's Strategy Made Second Consecutive $1B Bitcoin Purchase Last Week

Strategy (MSTR), the largest publicly traded holder of bitcoin, for the second straight week has aggressively bought the dip in bitcoin BTC$89,493.77.

The company acquired 10,645 bitcoin last week for $980.3 million, or an average price of $92,098 each. Total holdings rose to 671,268 BTC acquired for $50.33 billion, or an average of $74,972 per BTC.

The acquisition was funded primarily through the sale of $888.2 million in common stock, per a Monday morning filing, with most of the remaining funds coming from sales of the company’s STRD preferred series of stock.

Last week’s purchase is notable as it’s the second consecutive weekly acquisition of roughly $1 billion worth of bitcoin. While Strategy has been a consistent buyer of BTC in recent months, most weekly purchases have been relatively small due to constraints on the company’s ability to raise further funds.

For the past two weeks at least, Saylor and team have pushed aside concerns about shareholder dilution and been aggressive sellers of common stock to fund purchases.

MSTR shares are flat in premarket trading with bitcoin having pulled back over the weekend to its current $89,600.

Separately, it was announced that Strategy will remain a constituent of the Nasdaq 100. The company also sent a letter to MSCI last week pushing back on MSCI’s digital asset exclusion proposal.