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An SEC filing shows that Strategy funded its Bitcoin purchases entirely through the sale of common shares via its at-the-market equity offering program.
The approach marks a departure from recent purchases, which the company primarily financed using proceeds from variable-rate preferred stock STRC.
Strategy now holds 818,334 BTC acquired for a cumulative $61.81 billion, at an average cost basis of $75,537 per Bitcoin. The company also bought Bitcoin every week in April, totaling over $6.4 billion in purchases for the month.
Michael Saylor hinted at the latest accumulation over the weekend. On Sunday, April 26, he posted on X the message “The ₿eat Goes On,” alongside Strategy’s “Orange Dots” chart showing prior Bitcoin buys.
In the prior week, Strategy added 34,164 Bitcoin to its treasury at an average price of about $74,395 per coin, for a total cost of roughly $2.54 billion, according to an April 20 filing.
The accumulation continues despite ongoing criticism from gold advocate Peter Schiff, who has described STRC as a “Ponzi scheme.”
MSTR closed down 0.84% to $171.02 on Friday, while premarket Monday was $171.58, essentially flat. The stock’s resilience was noted against a backdrop of Bitcoin’s roughly 1% pullback on the day.
A cup-and-handle pattern formed from February’s $80 low to an April neckline near $165 has now broken out. The move above the neckline last week came with conviction, which the article said confirms the pattern and shifts the broader trend.
Technical levels cited include the 100 EMA at $165.01, described as having flipped into support. The 20 EMA at $150.66 and the 50 EMA at $146.04 were also described as trending higher.
The RSI was reported at 65.79—strong, but not yet overbought—leaving room for further movement before conditions become stretched.
Immediate support was listed at $165.01, followed by $160 and then $150.66.
Resistance was listed as stacked at $177 to $180. A breakout was described as opening the path toward $205.82 near the 200 EMA.
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