Strategy Acquires 705 Bitcoin Worth $75M: Michael Saylor Says ‘We’ll Keep Buying’

As of June 1, Strategy’s total Bitcoin holdings stood at 580,955, at an average price of $70,023 per BTC, totaling $40.68 billion.

Strategy Inc.’s (MSTR) shares were up nearly 1.3% on Monday after the company disclosed it acquired 705 Bitcoin (BTC) between May 26 and June 1.

The Bitcoin proxy, formerly known as MicroStrategy, stated in a filing with the U.S. Securities and Exchange Commission (SEC) that its total cost of acquiring the 705 Bitcoins was $75.1 million, at an average price of $106,495 per BTC.

As of June 1, Strategy’s total Bitcoin holdings stood at 580,955, at an average price of $70,023 per BTC, totaling $40.68 billion.

At current prices, Strategy’s total holdings are worth $60.54 billion, with an unrealized gain of 48.82%.

The company stated that its BTC yield stood at 16.90%, an increase of 10 basis points from its previous purchase.

Strategy said its latest Bitcoin purchase was made out of the company’s at-the-market (ATM) program.

The company’s board of directors has declared a dividend of $2 per share, payable on STRK (Preferred) shares and $2.64 per share, payable on STRF (Preferred Series A) shares.

In a recent interview with CNBC, Strategy co-founder Michael Saylor said there is no limit to his Bitcoin purchase plans.

“We’ll keep buying Bitcoin. We expect the price of Bitcoin will keep going up. We think it will get exponentially harder to buy Bitcoin, but we will work exponentially more efficiently to buy Bitcoin.”

Strategy’s stock has gained over 28% year-to-date and 128% over the past 12 months.

Bitcoin is up 11.71% year-to-date and up 54.14% over the past 12 months.

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