AI + BI company Strategy has picked up an additional 6,220 bitcoin as per an X post on Monday,. The company now holds 607,770 BTC and remains the largest corporate holder of Bitcoin. Strategy made the purchase for a total amount of $739.8 million at an average purchase price of $118,940.
To fund the purchase, proceeds were used from Strategy’s common stock, MSTR, and its three categories of preferred stock, including STRK, STRF, and STRD. The proceeds from preferred stock were negligible, with MSTR shares contributing $736.4 million from a sale of 1,636,373 shares.
Strategy’s previous purchase of BTC was made on July 14, when it picked up 4,225 BTC for a total purchase price of $472.5 million.
At the time of reporting, MSTR shares were trading at $426.42, up by 0.75% following Strategy’s purchase.
A class action lawsuit and multiple legal complaints against Strategy are in development, filed by law offices representing investors who purchased stock, claiming they were misled by the company’s Bitcoin treasury strategy and its representation of risks.