The company used proceeds from the sale of common stock for this latest purchase.

What to know:

• Strategy acquired another 6,911 bitcoin over the past week at an average cost of $84,529 each.
• Funds for the additional purchases came from the sale of common stock.
• The company now holds 506,137 bitcoin purchased at an average price of $66,608 each.

Michael Saylor-led Stategy (MSTR) brought its bitcoin stake above 500,000 tokens with additional purchases made last week.

The company purchased 6,911 bitcoin for $584.1 million, or an average cost of $84,529 per token, according to a filing Monday morning.

That brought the company’s holdings to 506,137 BTC acquired for $33.7 billion, or an average cost of $66,608 each.

Strategy funded this latest acquisition via the sale of 1.975 million shares of common stock, which raised $592.6 million.

The company’s latest preferred stock offering, $711 million of STRF, only priced late last week. To date, Strategy has sold 13,100 shares, raising $1.1 million, according to the filing.

MSTR is higher by 4.8% in premarket trading alongside a rally in bitcoin over the weekend to above $87,000.

The post Strategy Added 6.9K Bitcoin for $584M, Bringing Stack to 506K Tokens appeared first on Activist Post.