Strategy Buys 196 Bitcoin for $22.1M

Strategy (MSTR) announced on Monday that it purchased 196 BTC for $22.1 million, bringing its total holdings to 640,031 BTC. The latest purchase was made at an average price of $113,048 per bitcoin, raising the company’s overall average purchase price to $73,983.

The acquisition was funded through the issuance of common stock via an at-the-market (ATM) program, as well as the issuance of perpetual preferred stock.

Shares of MSTR rose 2.5% in pre-market trading, moving in line with a slight increase in bitcoin’s price to $112,000.