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Strategy Acquires 1,229 Bitcoin, Holdings Now Worth $59 Billion
Source: CryptoBriefing Original Title: Strategy buys 1,229 Bitcoin at above $88,500 Original Link: https://cryptobriefing.com/strategy-buys-bitcoin-price/
Overview
Strategy, the publicly traded company that treats Bitcoin as its primary treasury reserve asset, acquired 1,229 BTC last week at an average price of $88,568 per coin, lifting its total holdings to 672,497 BTC acquired for approximately $50.44 billion.
Key Details
Funding Method
Strategy funded the acquisition through sales of 663,450 shares of Class A common stock under its ATM (At-The-Market) program for the week ended December 28, generating approximately $109 million in net proceeds. The company maintains substantial capacity for future issuance.
Market Impact
Despite strong Bitcoin gains year-to-date, Strategy's stock has faced pressure from recent Bitcoin volatility, declining approximately 45% since the start of the year. Shares slipped ahead of Monday's market open as Bitcoin's recent swings continue to weigh on the stock.