Between October 27 and November 2, Michael Saylor’s company purchased 397 bitcoins at an average price of $114,711 per coin, for a total of $45,6 million, according to a filing by Strategy with the U.S. Securities and Exchange Commission on Monday.
The document states that the acquisitions were financed by proceeds from a series of market-based capital raising programs. These raised $69,5 million in the form of several classes of preferred and common stock. Approximately $54,4 million of this amount was raised from the sale of MSTR shares, while smaller amounts were raised through the issuance of STRF, STRK, and STRD preferred shares.
The company currently holds a total of 641,205 BTC, which is valued at nearly $69 billion. It spent a total of Bitcoin— reserves of approximately $47,5 billion, meaning it paid an average of $74,057 per coin. In just five years, the company has accumulated more than 3% of the total supply of the flagship cryptocurrency.
With its latest acquisition, Strategy further strengthened its position as the largest corporate holder of Bitcoin. Its closest competitor, Marathon Digital Holdings, holds 53,250 BTC, 12 times less than Michael Saylor’s company.