Michael Saylor's Strategy made $1.3 billion bitcoin purchase last week

Led by Executive Chairman Michael Saylor, Strategy (MSTR) made a massive bitcoin purchase last week.

The leading bitcoin treasury company added 17,994 bitcoin to its holdings for a total cost of $1.28 billion, or $70,946 per coin. The company stack now stands at 738,731 BTC acquired for $56.04 billion, or $75,862 per coin.

Bitcoin is currently trading just below $68,000.

Last week’s buys were mostly funded via $900 million in sales of common stock. The company also sold $377 million of its STRC preferred series of stock, according to a Monday morning filing.

MSTR shares are higher by 0.2% in pre-market trading.