Michael Saylor's Strategy Added 3,081 Bitcoin, Bringing Stack to Nearly 632.5K

Amid sizable volatility in prices, Strategy (MSTR) continued building its bitcoin (BTC) stack last week, buying 3,081 coins for $356.9 million, or an average price of $115,829 ￰0￱ company's holdings are now 632,457 BTC acquired for $46.5 billion, or an average price of $73,527 each. Bitcoin's plunge to $111,000 over the past 24 hours makes those holdings worth about $70.2 billion in ￰1￱ morning ￰2￱ week's bitcoin buys were mostly funded via sales of common stock, from which the company raised $300.9 ￰3￱ sales of three of the four MSTR preferred stock issues accounted for the rest of ￰4￱ Saylor and Strategy last week drew the ire of at least some of their fans, revising a pledge to never sell common stock when the price was below 2.5x mNAV.

MSTR, of course, has been under considerable pressure over the past few weeks and mNAV — a measure of the multiple of the company valuation versus its bitcoin holdings — has been well under 2x for some ￰5￱ is lower by more than 4% premarket alongside the steep slide in bitcoin.