Strategy Stacks Another Billion in Bitcoin, Funds It With Stretch Because Obviously

Michael Saylor's Strategy (MSTR) just couldn't resist the dip—or lack thereof. The company picked up 13,927 bitcoin last week at an average price of $71,902 per coin, totaling roughly $1 billion. Not exactly chump change, but for Saylor's operation, it's just another Tuesday.

This latest purchase brings their grand total to 780,897 BTC, acquired at an average cost basis of $75,577 per coin. The total investment? About $59.02 billion. At this point, Strategy's bitcoin holdings could probably have their own country.

Here's the fun part: the entire $1 billion came from selling Stretch (STRC), the company's perpetual preferred stock. Because apparently, printing your own funding mechanism is just how we do things now.

Bitcoin's currently lounging just below $71,000, while MSTR shares are down 2.5% in pre-market trading. So naturally, it's the perfect time to buy more.

Classic Saylor.