Strategy stock jumps 8% as company resumes Bitcoin purchases
Bitcoin
Strategy (formerly known as MicroStrategy) MSTR stock jumped 8% in trading on Monday after the company resumed buying Bitcoin following a two-week pause, while also continuing its repurchases of STRC preferred stock. Strategy acquired 950 Bitcoin for approximately $75.7 million during the week ended September 20, according to a Form 8-K filing with the US Securities and Exchange Commission. The company paid an average of $79,670 per Bitcoin, including fees and expenses. The purchase increased Strategy's total Bitcoin holdings to 846,000 BTC. The company has spent approximately $63.8 billion acquiring its Bitcoin holdings at an average cost of $75,416 per coin, including fees and expenses.
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