Michael Saylor’s MSTR boosted BTC and cash holdings

Michael Saylor and his embattled Strategy (MSTR) sold more common stock last week, using the proceeds to add a relatively small amount of bitcoin and $300 million in cash to its balance sheet.

The company sold about 2.7 million shares of MSTR, according to a Monday morning filing, raising $335.5 million. About $35 million of that was used to acquire 520 bitcoin at an average price of $67,068 each. The other $300 million was added to cash already on the balance sheet, bringing reserves to $1.4 billion.

The latest acquisition brings Strategy’s total bitcoin holdings to 847,363 BTC, acquired at a total cost of roughly $64.01 billion, or an average purchase price of $75.651 per coin.