💰 Strategy Buys 811 BTC as Cash Reserves Drop 45%
Michael Saylor’s Strategy (MSTR) acquired 811 Bitcoin for approximately $66 million between Oct. 26 and Nov. 1. The purchase was made at an average price of $80,846 per coin, bringing the company's total holdings to 849,327 BTC.
The firm’s deployable USD cash fell 45.3% during the week, dropping from $242 million to $133 million. This decline occurred because the company prioritized $208 million in preferred-stock (STRC) buybacks over new crypto acquisitions.
To fund these moves, Strategy sold over 1.17 million shares of its MSTR common stock, generating $164 million in net proceeds. Only about 40% of those proceeds were used for Bitcoin, while the rest went to cash reserves under pressure from the aggressive buyback program.
#Bitcoin #MicroStrategy #MSTR #CryptoNews
Michael Saylor’s Strategy (MSTR) acquired 811 Bitcoin for approximately $66 million between Oct. 26 and Nov. 1. The purchase was made at an average price of $80,846 per coin, bringing the company's total holdings to 849,327 BTC.
The firm’s deployable USD cash fell 45.3% during the week, dropping from $242 million to $133 million. This decline occurred because the company prioritized $208 million in preferred-stock (STRC) buybacks over new crypto acquisitions.
To fund these moves, Strategy sold over 1.17 million shares of its MSTR common stock, generating $164 million in net proceeds. Only about 40% of those proceeds were used for Bitcoin, while the rest went to cash reserves under pressure from the aggressive buyback program.
#Bitcoin #MicroStrategy #MSTR #CryptoNews