Strategy Shares Fall After Bitcoin Giant Reveals $100 Million BTC Buy

Shares of leading Bitcoin treasury firm Strategy (MSTR) are down about 1.4% amid news the firm spent $100 million to acquire 850 Bitcoin last week at an average price of$ 117,344. Trading at $339.80, MSTR is now down around 5.2% in the last month, underperforming BTC itself, which is only down around 1.6% in that time. To make its latest purchase, the firm used around$ 19 million in proceeds from its STRF preferred stock offering, and more than $80 million in net proceeds from its existing$ 21 billion MST ...