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Strategy buys 535 bitcoin for $43 million days after signaling potential BTC sales
Key takeaways
- With bitcoin currently trading above $81,000, Strategy's stash is currently in profit.
- Last week’s purchases were funded by $42.9 million raised through sales of the company’s preferred stock, according to a May 11 SEC filing.
- MSTR shares rose more than 1% in pre-market trading.
With bitcoin currently trading above $81,000, Strategy's stash is currently in profit.
Last week’s purchases were funded by $42.9 million raised through sales of the company’s preferred stock, according to a May 11 SEC filing.
This purchase follows Strategy’s first-quarter earnings call, where the company said it was prepared to sell bitcoin to repay convertible debt or fund dividend obligations, provided the move remains accretive on a bitcoin-per-share basis.
Article preview — originally published by CoinDesk. Full story at the source.
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