Strategy boosts treasury to 850,364 bitcoins after buying $81.9 million

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With this new acquisition, Strategy holds the equivalent of approximately 4.05% of the maximum supply of Bitcoin, set at 21 million units. The price paid this week, $79,012 per bitcoin, exceeds by $3,556 the average acquisition cost of his entire position, which stands at $75,456, including fees.

To fund its operations, the company sold just over 2 million shares of MSTR common stock through its at-market sales program. Of the 283.8 million net dollars thus raised, it devoted 81.9 million to Bitcoin and allocated 13.6 million to its current cash flow. The STRC buyout absorbed the remainder, approximately two-thirds of the sales proceeds.

Strategy bought back nearly 1.89 million STRC shares. These perpetual preferred shares pay a variable rate dividend. The form distinguishes this repurchase from the program dedicated to MSTR ordinary shares, of which Strategy sold securities over the same period.

The company also separates its dollar reserve from its current cash flow. As of November 8, it had $4.77 billion in a reserve to support the payment of preferential dividends and interest on its debt, as well as $146.2 million for broader uses. Over the week, it drew $21.1 million from this reserve to pay dividends.

Strategy therefore continued to accumulate bitcoins, but the buyout of STRC weighed more than twice as much in the use of the capital raised this week. See you next week for new orange dots (or not)!

An editorial article. Le Journal du Coin, the first French-speaking news media on cryptocurrency, Bitcoin, and blockchain protocols.

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Machine-translated from French