According to submissions submitted by SEC on Monday, the strategy purchased Bitcoin at an average price per coin between April 28 and May 4. The company’s total holdings reached 555,450 BTC, at an average price of $68,550 per bitcoin at about $38.08 billion.
The latest purchase was funded through a combination of common shares and preferred shares sales, raising $128.5 million through the strategy’s common shares ATM program and $51.8 million through the sale of Struk preferred shares. The deal significantly drained the strategy’s first $21 billion ATM product launched last year.
Last week, the strategy announced plans to double its capital raising capabilities, launching a new $21 billion ATM product and expanding its debt purchase plan to $42 billion. The expansion plans say the company’s intention is to continue its Bitcoin accumulation strategy.
The strategy remains the largest company holder of Bitcoin, with its holdings accounting for approximately 2.64% of Bitcoin’s maximum supply. The company’s Bitcoin stack is worth about $94,000, and is worth more than $52 billion.
The purchase comes amid strong institutional demand for Bitcoin through regulated vehicles, BlackRock’s ishares Bitcoin Trust (IBIT) recorded a massive inflow over the past 2 weeks.
Strategic stocks last Thursday fell 2.7% in previous market trading on Monday. Bitcoin is currently trading at $94,497, down 1.14% in the past 24 hours.
