Michael Saylor’s Strategy, the world’s largest corporate holder of Bitcoin, disclosed its latest BTC purchases made last week amid escalating geopolitical tensions in the Middle East.
Strategy acquired 10,100 Bitcoin (BTC) for $1 billion during the week ending June 15, the company officially announced on June 16.
The purchases were made at an average price of $104,080 per coin, with Bitcoin dropping from $110,000 last Monday to an intraweek low of $103,639 on June 12, following the news that Israel had struck Iranian nuclear facilities.
The latest haul was Strategy’s second Bitcoin acquisition in June, bringing its total holdings to 592,100 BTC, acquired for approximately $41.8 billion at an average price of $70,666 per coin.
Strategy’s STRD debuted on Nasdaq on June 11
The announcement comes shortly after Strategy’s third Bitcoin-backed preferred stock, STRD, began trading on the Nasdaq on June 11.
With STRD, Strategy plans to raise $250 million through an initial public offering of a new class of perpetual preferred stock to buy more Bitcoin.
As part of the STRD raise, Strategy will issue 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock at $100 per share.
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This is a developing story, and further information will be added as it becomes available.
