Strategy, the US software company formerly known as MicroStrategy, said in a June 22 filing that it sold about 2.7 million common shares for US$335.5 million.

The company used about US$35 million of the proceeds to purchase 520 bitcoin and added roughly US$300 million to its cash balance.

The purchase averaged US$67,068 per coin, lifting Strategy’s bitcoin holdings to 847,363 BTC, acquired for about US$64.01 billion, or US$75,651 per coin on average.

Strategy now operates as a bitcoin treasury company that uses equity and debt financing, alongside operating cash flow, to accumulate bitcoin.

The filing came after swings in STRC, Strategy’s variable-rate series A perpetual preferred stock.

The security is designed to trade near its US$100 par value through monthly dividend resets, but it fell below US$83 on June 19 before recovering to US$90.43 on June 22.

Trading below par matters because it can pause issuance under the preferred stock’s at-the-market program, while repeated dividend increases to support STRC’s price can raise Strategy’s financing costs.

🔗 Source: CoinDesk

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