#StrategyBTCPurchase

Strategy reported its fourth-largest Bitcoin purchase of the year on Tuesday, scooping up the digital asset with proceeds that partly came from preferred shares.

The Tysons Corner, Virginia-based firm purchased 2,500 BTC last week for $168 million, a press release showed. That lifted the company’s holdings to around 717,100 Bitcoin, which was worth about $48 billion as Bitcoin edged down to nearly $67,000, according to CoinGecko.

To fund its latest acquisition, Strategy issued $90.5 million worth of common stock. Meanwhile, the firm sold $78.5 million worth of its variable rate, or STRC, preferred stock. The product currently pays monthly dividends at an annualized rate of 11.25% in cash.

The balance underscores a shift in Strategy’s approach to acquiring Bitcoin in recent months, as the company’s total value has approached that of its holdings. Issuing preferred shares has become a bigger priority, as products that Michael Saylor has described as “digital credit.”

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