Michael Saylor's strategy added $51M of Bitcoin last week
|What to know
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Strategy (MSTR) added 430 bitcoin for $51.4 million last wek.
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Total holdings now foot to 629,376 coins worth about $72 billion as bitcoin declined to $115,000 overnight.
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Strategy updated its ATM equity guidance, allowing issuance of common stock below 2.5x mNAV when deemed advantageous.
Strategy (MSTR) — the original and leading bitcoin treasury company — added 430 bitcoin to its stack last week.
Led by Executive Chairman Michael Saylor, the company made these latest purchases at an average price of $119,666 each for a total of $51.4 million.
Strategy now holds 629,376 bitcoin purchased at an average pice of $73,320 each. Bitcoin's large overnight decline has brought the price down to $115,000, making MSTR's stack worth about $72 billion.
Saylor also announced that Strategy is revising its at-the-market (ATM) equity issuance guidance. Previously, the company had stated that it would not issue common stock when the shares were trading below 2.5x mNAV — a move intended to ease equity-holder concerns about dilution.
The updated guidance now provides flexibility to issue equity below this threshold when deemed advantageous to the company.
MSTR shares are lower by 2.2% premarket and down by more than 10% over the past week. Shares remain higher by about 20% year-to-date.
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