Strategy Shares Rise After Purchasing 950 Bitcoins
MT Newswires Live
Sep 22
Strategy (MSTR) shares rose 7.9% on Monday after the company revealed in a regulatory filing that it purchased 950 bitcoins for $75.7 million between Sept. 14 and Sept. 20, bringing its total holdings to 846,000 bitcoins.
During the same period, the company also repurchased nearly 1.8 million of its series A perpetual Stretch preferred stock for $174 million, according to the filing.
The company stated it used its cash reserves to fund the bitcoin trades and repurchases.
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