INSUBCONTINENT EXCLUSIVE:
Strategy has acquired $110.2 million worth of Bitcoin as the price trades near its all-time high level.According to a Monday US Securities
and Exchange (SEC) filing, Strategy acquired 1,045 Bitcoin (BTC) at an average price of $105,426 per coin
The company now holds 582,000 BTC acquired for about $40.8 billion at an average price of around $70,086 per BTC.The announcement follows
Strategy co-founder and executive chairman Michael Saylor hinting at the purchase on June 8
The buy marks the ninth consecutive week that Strategy has acquired Bitcoin.News of the latest purchase comes as Bitcoin approaches its
According to CoinMarketCap, Bitcoin traded at $107,640 at the time of writing, just 3.9% lower than the all-time high of about $112,000
The company plans to use the proceeds to fund additional Bitcoin acquisitions and corporate expenses.The stock offering issues 11.76 million
Following the deduction of expenses from underwriting and other dues, the firm expects to raise about $979 million.Unlike previous
fundraising rounds, this offering provides non-cumulative dividends of 10%, designed to appeal to institutional and professional investors
Bitcoin in August 2020 with an initial purchase of 21,454 BTC for $250 million
The firm now holds more than 2.75% of the total Bitcoin supply
Blockchain Group has added another 580 Bitcoin to its treasury, leading to a 225% surge in its stock price after pivoting to BTC
accumulation in November 2024
Earlier this month, the Norway-based crypto exchange Norwegian Block Exchange saw its stock rise by over 138% in a day after announcing its
intention to buy and hold Bitcoin.Magazine: Baby boomers worth $79T are finally getting on board with Bitcoin
