Strategy makes $26 million purchase of bitcoins

Strategy has purchased $26 million worth of bitcoins over the past seven days. This is the company's second-smallest weekly transaction since it increased its purchases of the cryptocurrency more than six months ago.

The firm bought 245 BTC between 16 and 22 June at an average price of $105,856 per coin, according to a report filed with the US Securities and Exchange Commission. Strategy now owns approximately $60 billion worth of bitcoins.

This is also the fourth consecutive week that the company has funded its cryptocurrency purchases without selling common stocks. The latest transactions were carried out using the proceeds from the sale of Strike and Strife preferred stocks.

Since the software maker began buying bitcoins in mid-2020, the company's share price has risen by more than 3,000%. Over the same period, the value of the major cryptocurrency has surged by around 1,000%.