Strategy (MSTR) continued its weekly Bitcoin purchases, but last week’s purchases were relatively small.
The company, led by executive chairman Michael Saylor, purchased 855 Bitcoins for $75.3 million, or an average price of $87,974 per coin. The purchase was funded through the sale of common stock, according to a Monday morning filing.
The company has been regularly acquiring hundreds of millions or even billions of Bitcoin each week (though not always) over the past few months, and the acquisitions have been relatively small.
Strategy Inc.’s total holdings currently stand at 713,502 Bitcoins, acquired for approximately $54.26 billion, at an average price of $76,052 per coin.
Bitcoin is trading just above $77,000 after a price decline late last week spilled over into the weekend, leaving the company, which has been buying Bitcoin for about five and a half years, just above break-even.
MSTR stock fell 7.3% in pre-market trading to a multi-year low of $138.80.
Read more: Michael Saylor’s Bitcoin stack is officially underwater, but here’s why he’s unlikely to reach for the panic button
