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Barchart
Barchart
Pathikrit Bose

Strategy Sells Shares to Buy Bitcoin. What This Means for MSTR Stock.

Strategy Bitcoin MSTR STRC

Strategy (MSTR) could not have timed it better. Just as news poured in that a deal had been struck to end the war in Iran, the company revealed through a filing that it had bought Bitcoin (BTCUSD) worth about $100 million. The transactions were carried out between June 8 and June 14, wherein Strategy sold about 1.73 million shares of MSTR stock to buy 1,587 BTC.

The world's largest Bitcoin treasury company now owns 846,842 of the world's largest cryptocurrency with an average purchase price of $75,656 each and a total value of $64.07 billion. Bitcoin is trading below the average purchase price currently at about $62,600, with the crypto down by 40% over the past year.

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