Business intelligence firm Strategy has acquired an additional 1,895 Bitcoins for roughly $180 million, according to a Monday announcement.
In a now-familiar pattern, Executive Chairman Michael Saylor hinted at the purchase on Sunday with a social media post.
According to CoinGecko data, Bitcoin is currently changing hands slightly above the $94,000 level after dipping below 1.5% over the past 24 hours.
Meanwhile, Strategy shares are down 3% in pre-market trading after adding more than 3% on Thursday.
As reported by U.Today, the largest corporate Bitcoin holder announced a $1.4 billion purchase on Monday. The firm spends its entire $21 billion at-the-money (ATM) offering within mere months.
Last week, Strategy moved to double the amount of capital that it intends to raise for buying Bitcoin to an eye-popping $84 billion.
The company registered another $21 billion equity offering program after exhausting the previous one. The company has also doubled its debt purchase program to a whopping $42 billion, with $14.6 billion still being available.
The biggest threat to Strategy
Last month, Matthew Siegel, head of digital research at VanEck, stated that a collapsing premium poses the biggest threat to Strategy and its copycats.
"As long as the shares are trading at a premium…then they should be able to issue equity and buy Bitcoin in a way that creates this Bitcoin yield," he said.
However, if the shares of such companies start trading at a discount, this will break the Bitcoin yield engine since financing new BTC purchases would be value-destructive for shareholders.
Vladislav Sopov