According to a new Form 8-K filed with the Securities and Exchange Commission, Strategy has announced yet another blockbusting cryptocurrency purchase, adding $1 billion worth of Bitcoin to its corporate treasury.
The acquisition was funded entirely through the company's aggressive at-the-market (ATM) stock offering program.
Strategy has acquired 13,927 BTC over the past week. The average purchase price for this specific block was $71,902 per Bitcoin.
As of Apr. 12, Strategy holds a staggering 780,897 BTC. The total aggregate purchase price for the firm's entire Bitcoin treasury now sits at roughly $59.02 billion.
Across all of its purchases, the company's average cost basis is $75,577 per Bitcoin.
The SEC filing details that the company sold exactly 10,028,363 shares of its "STRC Stock" (Variable Rate Series A Perpetual Stretch Preferred Stock).
Perhaps the most notable takeaway from the 8-K filing is just how much capital Strategy still has at its disposal.
Despite deploying a billion dollars this week, the company has hardly made a dent in its total available capacity. According to today's filing, the firm still has $21.64 billion available for issuance under its STRC stock program and an additional $27.09 billion available under its Class A Common Stock (MSTR) program.
As reported by U.Today, former Strategy CEO Michael Saylor recently opined that Bitcoin's four-year cycle was officially dead. The highly influential executive is convinced that BTC has already won the institutional adoption game.
Dan Burgin
U.Today Editorial Team
