Bitcoin price rose above $106,000 after Strategy purchased 487 BTC for about $49.9 million, bought between November 3 and November 9 at an average of $102,557 per Bitcoin inclusive of fees. Strategy's total holdings reached 641,692 BTC, acquired for $47.54 billion at an average price of $74,079 per Bitcoin. The acquisition was financed through multiple preferred stock offerings under ATM programs, including first-time use of the STRC "Stretch" series which raised $26.2 million and other series raising $18.3 million, $4.5 million, and $1 million. The STRC dividend was raised to a 10.5% annualized rate. Bitcoin traded at $106,219, up 3.12% in 24 hours, amid increased institutional adoption and perceived market stability; notable short-seller Jim Chanos closed his short against MSTR.
"Bitcoin's price climbed above $106,000 on Monday as Strategy, the world's largest corporate holder of Bitcoin, announced its latest acquisition of 487 BTC for approximately $49.9 million. According to an SEC filing, the purchases were made between November 3 and November 9 at an average price of $102,557 per Bitcoin, inclusive of fees and expenses. The business intelligence firm's total Bitcoin holdings have now reached 641,692 BTC, acquired for an aggregate purchase price of $47.54 billion at an average price of $74,079 per Bitcoin."
"The recent purchase was funded through multiple preferred stock offerings under Strategy's at-the-market (ATM) programs. Notably, the company utilized its STRC "Stretch" preferred stock series for the first time, raising $26.2 million through the sale of 262,311 shares. Additional funding came from other preferred stock series, including $18.3 million from STRF "Strife" shares, $4.5 million from STRK "Strike" shares, and $1 million from STRD "Stride" shares."
"Strategy's innovative approach to financing Bitcoin acquisitions through various preferred stock offerings has created a sustainable model for corporate Bitcoin accumulation. The company recently increased the STRC series' annualized dividend rate to 10.5%, paid monthly, to attract investors. Bitcoin price rebound Bitcoin's price responded positively to the announcement, trading at $106,219 as of press time, up 3.12% in the past 24 hours. The market has shown increased stability and maturity, with institutional adoption continuing to grow despite recent market volatility."
Read at Bitcoin Magazine
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