Strategy, the largest corporate holder of bitcoin, has made a significant move in the digital asset market by acquiring 6,556 bitcoins for $555.8 million, further solidifying its position as the leading corporate investor in BTC.
The largest corporate holder of bitcoin, Strategy, has added 6,556 bitcoin to its balance sheet, spending $555.8 million in the process. The purchase was funded using proceeds from the company’s two at-the-market (ATM) stock offering programs.
This latest acquisition boosts Strategy‘s total holdings to 538,200 BTC, purchased at an average price of $67,766 per coin. The company has now spent $36.47 billion on bitcoin to date, solidifying its position as the largest corporate holder of BTC.
The common stock sale brought in $547.7 million, while the preferred shares added another $7.8 million. Strategy sold 1.76 million shares of its Class A common stock and over 91,000 shares of a preferred stock series — STRK — between April 14 and April 20.
Shares of MSTR are up 2.77% in pre-market trading as BTC rose to $87,300. This latest development comes as the company continues to demonstrate its commitment to bitcoin and other digital assets.
Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for intermediaries.
Created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto, bitcoin uses cryptography to secure and verify transactions.
The total supply of bitcoin is capped at 21 million, making it a scarce asset.
As of 2022, over 18 million bitcoins have been mined, with a market capitalization exceeding $1 trillion.
