Software company turned serial cryptocurrency acquirer Strategy (MSTR) continues buying Bitcoin (BTC) as the price falls.
Last week, Strategy purchased an additional 17,994 Bitcoin at a total cost of $1.28 billion U.S., or $70,946 U.S. per coin.
The company run by Executive Chairman Michael Saylor now owns 738,731 Bitcoin that has been purchased for $56.04 billion U.S., or an average price of $75,862 U.S. per digital token.
Bitcoin is currently trading just below $68,000 U.S. as markets around the world are rattled with crude oil rising back above $100 U.S. per barrel due to the war with Iran.
Strategy’s most recent purchases were funded via $900 million U.S. in sales of common stock.
The company also sold $377 million U.S. of its STRC preferred series of stock, according to a regulatory filing with the U.S. Securities and Exchange Commission (SEC).
Strategy has been criticized by some analysts for continuing to buy the largest cryptocurrency by market capitalization despite its price being cut nearly in half over the past six months.
MSTR stock has declined 44% over the last 12 months to trade at $133.53 U.S. per share.
