Strategy’s Bitcoin Buying Accelerates as $48 Billion BTC Stash Sits Underwater

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 ...