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Strategy indicated on Monday that it spent $1 billion on Bitcoin last week, adding to its stockpile using proceeds that came solely from its flagship preferred share.
The Bitcoin-buying firm said in an announcement that it now owns nearly 781,000 Bitcoin, a 1.8% jump compared to the week prior. With Bitcoin recently changing hands around $70,900, the company’s holdings were worth $55.3 billion, according to CoinGecko.
The Tysons Corner, Virginia-based firm’s latest purchase, totaling roughly 14,000 Bitcoin, marked its largest in nearly a month. Meanwhile, the company issued notable amounts of its variable-rate preferred shares, STRC, for a second straight week.
The product that currently pays 11.5% in monthly dividends has become...