Strategy Purchases 13,927 Bitcoin for $1 Billion Using Stretch Preferred Stock Sales
Strategy acquired 13,927 Bitcoin for $1 billion at an average price of $71,902 per coin, funded by sales of its Stretch perpetual preferred stock. This purchase increases Strategy’s total Bitcoin holdings to 780,897 BTC, representing over 3.7% of Bitcoin’s total supply and implying significant paper losses at current prices.
Topics: Bitcoin purchases corporate strategy dividend coverage stock sales