Strategy’s reported $588 million in Bitcoin (BTC) purchases divided by $5.4 billion raised works out to an estimated 10.9 cents per dollar in the third quarter.
Share offerings brought in $5.4 billion, while purchases of Bitcoin totaled $588 million. Dividing the purchase total by the fundraising figure yields the estimated ratio. The total drew on common stock and five preferred series: STRC, STRK, STRF, STRD and STRE.
The comparable amount spent on Bitcoin was 98 cents per dollar raised in the first quarter and less than 77 cents in the second. Quarterly purchases totaled 7,218 BTC; after 5,552 BTC in sales, net holdings were 1,666 BTC higher. The sales generated $348.6 million, part of which went toward preferred-share dividends and STRC repurchases.
An Oct. 19 filing said Strategy used $22 million from a common-share sale toward a $22.1 million Bitcoin (BTC) purchase and covered the remaining $100,000 with cash. EconoTimes’ account of that share sale and purchase has further details.