Strategy (formerly MicroStrategy) has yet again expanded its Bitcoin holdings by purchasing 4,020 BTC for $427 million. The acquisition was made possible through some equity offerings between May 19 and May 25 at an average Bitcoin price of $106,237.
The recent purchase brings Strategy’s holdings to 580,250 BTC, valued at over $63 billion, accounting for 3% of the total BTC supply. Despite its strategic investment, Strategy’s stock has declined 7.5% in two days, trading at $369.51. Meanwhile, Bitcoin trades at $109,000.