Bitcoin treasury company Strategy (NASDAQ: MSTR) purchased 2,932 bitcoin for some $264 million between January 20 and January 25, according to a regulatory filing released Monday.
The company paid an average price of $90,061 per bitcoin. The new acquisition brings the average price of total Bitcoin holdings to $76,037 per bitcoin.
The firm sold 1,569,770 shares of its common stock for $257 million to fund the purchase.
Strategy raised additional $7 million from 70,201 shares of its Variable Rate Series A “Stretch” Preferred Stock (STRC) for. The combined equity sales across both classes totaled $264 million.
Strategy now holds 712,647 bitcoin as of January 25. The aggregate purchase price for these holdings is approximately $54.19 billion. The company continues to solidify its position as the largest corporate holder of the cryptocurrency.
From the investor community, TD Cowen recently maintained its $440 price target for Strategy in its newest investor note, written by analyst Lance Vitanza. The figure implies a 175% upside from the January 26’s pre-market trading price of $159.90.
At the time of the report, Bitcoin trades at $87,803.61.
