Strategy Buys 1,587 BTC for $100 Million Amid Ongoing MSTR Sales

Michael Saylor's Strategy, the world's largest public Bitcoin holder, continues to expand its cryptocurrency reserves. Last week, it acquired 1,587 BTC for $100 million, at an average price of $63,024 per Bitcoin.

This purchase was made between June 8 and Sunday, according to Monday's 8-K filing with the US Securities and Exchange Commission. The company funded this acquisition through sales of its Class A common stock (MSTR).

The latest buy brings Strategy's overall average cost basis slightly lower to $75,656. With a total holding of 846,842 BTC accumulated at a cost of $64.07 billion, the current value of those holdings is approximately $56.1 billion.