Strategy buys 950 bitcoins for $75.7 million using stock sale
Business
Strategy just snapped up 950 more bitcoins for $75.7 million, its first bitcoin buy since late August.
It paid about $79,670 per bitcoin, using money raised from selling company stock.
Strategy now holds 846,000 bitcoins
After the news broke, Strategy's stock jumped 7% and bitcoin's price hovered around $84,500.
The company also used some of the new cash to buy back preferred shares and boost its reserves.
With this latest purchase, it now holds 846,000 bitcoins, acquired for a total of $63.81 billion at an average price of $74,417 per coin, making it one of the biggest corporate holders out there.