Strategy buys another 855 bitcoin

Bitcoin treasury firm Strategy has purchased an additional 855 BTC for approximately $75.3 million, paying an average price of $87,974 per bitcoin.

The latest acquisition brings Strategy’s total holdings to 713,502 BTC. According to company figures, those holdings were accumulated at an average purchase price of $76,052 per bitcoin, representing a total cost basis of about $54.3 billion, including fees and expenses.

The purchases were funded through proceeds from the company’s at-the-market sales of its Class A common stock (MSTR). Last week alone, Strategy sold 673,527 MSTR shares, generating roughly $106.1 million. As of Feb. 1, about $8.06 billion worth of MSTR shares remain available for issuance under the program.

With more than 713,000 BTC on its balance sheet, Strategy now controls over 3.4% of Bitcoin’s maximum 21 million supply. However, recent price weakness has significantly narrowed the firm’s unrealized gains, which briefly turned into a paper loss when bitcoin dipped below the company’s average cost basis.

Strategy’s stock has also come under pressure alongside Bitcoin’s decline, falling sharply over the past week and continuing lower in pre-market trading at the start of the new week.