Strategy, the bitcoin-focused firm led by Michael Saylor, continued its aggressive accumulation last week, buying 3,081 BTC for $356.9 million at an average cost of $115,829.
The company’s total bitcoin stash now stands at 632,457 BTC, acquired for $46.5 billion and currently valued near $70.2 billion, with bitcoin recently dropping to $111,000. Funding came mainly from $300.9 million raised through common stock sales, alongside modest preferred stock sales.
The stock sales, however, have triggered backlash after Strategy revised its prior commitment not to sell common stock below 2.5x mNAV. With MSTR’s valuation multiple now under 2x, critics argue the firm is straining credibility.
Despite mounting market volatility and share price pressure, Saylor remains committed to expanding the company’s bitcoin reserves, further cementing MSTR’s role as the largest corporate bitcoin holder.
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