Strategy (MSTR), the largest publicly traded Bitcoin holder, has been actively buying as Bitcoin dips for the second week in a row .
The company acquired 10,645 Bitcoins last week for $980.3 million, or an average price per Bitcoin of $92,098. The total holdings increased to 671,268 BTC, with a price of $50.33 billion and an average of $74,972 per coin.
The acquisition will be funded primarily by the sale of $888.2 million in common stock, with much of the remainder coming from the sale of the company’s STRD preferred series stock, according to documents filed Monday morning.
Last week’s acquisition was noteworthy as it was the second consecutive week that approximately $1 billion worth of Bitcoin was acquired. Although Strategy has been a buyer of BTC in recent months, most weekly purchases have been relatively small as the company’s ability to raise additional capital has been limited.
For at least the past two weeks, Thaler and his team have put aside concerns about shareholder dilution and aggressively sold common stock to fund acquisitions.
MSTR shares were flat in pre-market trading, with Bitcoin retreating over the weekend to a current level of $89,600.
In addition, Strategy announced that it will remain a component of the Nasdaq 100 Index. The company also sent a letter to MSCI last week opposing MSCI’s proposed digital asset exclusion.