As a result, the two companies have accumulated over 23,000 BTC worth more than $2 billion in the past two weeks, signaling their firm conviction in Bitcoin’s long-term value.
The firm said it spent $764.9 million on this purchase, which means each coin was purchased at an average price of $103,498.
The company funded the latest acquisition by selling shares. It raised $705.7 million from selling over 1.7 million MSTR shares and another $59.7 million from 621,555 STRK shares.
According to the SEC filing, these assets were acquired at approximately $40.18 billion, implying an average price of $69,726 per Bitcoin. At current market rates, the firm’s stash is valued at around $59.09 billion, with nearly $19 billion in unrealized gains.
However, despite the gains, Strategy’s Bitcoin-first approach appears to have sparked legal challenges from disgruntled shareholders.
The complaints argued that the firm overstated Bitcoin’s potential returns and downplayed the risks of the top digital asset’s volatility. It also suggested that the company’s public communications failed to reflect material risks and may have misrepresented BTC’s long-term outlook.
The law firm behind this suit is renowned for filing large volumes of similar cases, casting doubt on the number of investors the suit represents.
Metaplanet also confirmed it purchased 1,004 BTC for approximately $104.6 million.
This marks the firm’s second purchase above 1,000 BTC, bringing its total holdings to 7,800 BTC worth about $807 million.
