Strategy Boosts Bitcoin Holdings with $1.57B Weekly Purchase

Strategy extended its bitcoin buying streak with a $1.57 billion acquisition last week, according to a Monday filing, reinforcing its position as the largest publicly traded holder of the cryptocurrency.

Led by Michael Saylor, the firm purchased 22,337 BTC at an average price of $70,194 per coin. The latest addition brings total holdings to 761,068 bitcoin, accumulated at a total cost of $657.61 billion, or an average of $75,696 per coin.

The purchase ranks as the company’s fifth-largest weekly bitcoin buy on record.

Bitcoin was trading near $73,600 on Monday, up 2.6% over the past 24 hours.

The bulk of the acquisition was funded through $1.1 billion raised via STRC preferred stock sales, along with $396 million from the sale of common shares.

Shares of Strategy (MSTR) rose roughly 4% in pre-market trading, in line with bitcoin’s gains over the weekend.