MSTR Up 2% As Strategy Buys 390 Bitcoin, But Downtrend Remains Intact

Strategy Inc. (NASDAQ:MSTR) traded near $296 on Monday afternoon, up 2.6%, after the company disclosed a new Bitcoin (CRYPTO: BTC) purchase worth $43.4 million.

Strategy Adds 390 BTC Worth $43 Million

The company announced in its latest SEC Form 8-K filing that it acquired 390 Bitcoin between Oct. 20 and 26 for roughly $43.4 million, at an average price of $111,053 per coin.

As of Oct. 26, Strategy holds 640,808 BTC, purchased for about $47.44 billion at an average cost of $74,032 per coin. 

The firm said proceeds from several preferred stock at-the-market programs funded …

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