Strategy buys 1,037 bitcoin for $77m in latest treasury expansion
The acquisition by Michael Saylor's firm comes one week after it bought 810 bitcoin for $63 million.
Key takeaways
- 1Strategy purchased 1,037 bitcoin for $77 million on 9 November.
- 2The firm previously acquired 810 bitcoin for $63 million on 2 November.
- 3The two acquisitions total $140 million spent on 1,847 bitcoin in early November.
Strategy bought 1,037 bitcoin for $77 million on 9 November, completing its latest addition to its corporate cryptocurrency treasury reserves. Executive Chairman Michael Saylor announced the transaction, continuing the firm's long-running corporate treasury reserve strategy.
The acquisition follows a buy completed on 2 November, when Strategy acquired 810 bitcoin for $63 million. When the company announced that earlier trade, bitcoin traded at $77,784 with a market value of $1.56 trillion. Across both purchases in early November, the firm deployed a total of $140 million to add 1,847 bitcoin to its corporate balance sheet.
Strategy initially focused on enterprise business intelligence software before adopting bitcoin as its principal corporate treasury asset to protect its reserves against monetary inflation. Executive Chairman Michael Saylor has directed the firm to fund these ongoing acquisitions by using operational cash flow together with proceeds from equity sales and convertible bond issuances.
The short time frame between the two buys demonstrates Strategy's intention to accumulate bitcoin steadily regardless of market fluctuations. Financial analysts and digital asset traders will monitor the company's official regulatory filings with US financial authorities in the coming weeks to track its total token balance, average acquisition cost, and obligations linked to its debt offerings.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.