Strategy buys 535 bitcoin for $43 million days after signaling potential BTC sales

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Strategy buys 535 bitcoin for $43 million days after signaling potential BTC sales Last week's purchases were funded by sales of the company's common stock. What to know: - Strategy purchased 535 bitcoin for about $43 million last week at an average price of $80,340 per coin. - The company has spent roughly $61.8 billion on its bitcoin at an average cost of $75,540 per coin. - MSTR shares rose 1% pre-market trading. Disclosure: The author of this story owns shares in Strategy (MSTR). Michael Saylor, the executive chairman of Strategy (MSTR), the largest publicly traded corporate holder of bitcoin The purchases bring the company’s total holdings to 818,869 BTC, acquired for $61.86 billion at an average cost basis of $75,540. 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 common 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. MSTR shares rose more than 1% in pre-market trading. CORRECT (May 11, 14:01 UTC): Corrects headline to say Strategy bought 535 bitcoin, an earlier version of this story incorrectly flagged it as a $535 million purchase. More For You Michael Saylor confirmed the company was prepared to sell bitcoin, reviving a tax loss harvesting strategy first used in 2022. What to know: - Strategy previously sold 704 BTC in December 2022 to realize tax losses before quickly rebuying 810 bitcoin, two days later, a move designed to offset prior capital gains and secure tax benefits. - With bitcoin down 23% in Q1 2026, Strategy recorded a $12.54 billion unrealized loss and built a $2.2...

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